Shah would be replacing N Santhanam, who will be retiring from Piramal Healthcare with effect from 31 December 2011.
Piramal Healthcare said the company has appointed Vijay Shah as executive director and chief operating officer with effect from 1 January 2012.
The company has also inducted Shah, who is presently managing director of Piramal Glass Ltd (PGL), as a director on the board of the Piramal Healthcare.
Consequent to his appointment as executive director and COO of the PHL, Shah shall cease to be the MD of Piramal Glass but continue to be a non executive director on the company’s board.
Shah would be replacing N Santhanam who will be retiring from PHL with effect from 31 December 2011. The healthcare firm has also appointed RA Mashelkar and Goverdhan Mehta as directors, replacing RA Shah and YH Malegam, who have stepped down from their positions.
In the late afternoon, Piramal Healthcare was trading at around Rs380 per share on the Bombay Stock Exchange, 0.24% down from the previous close.
“Lava will launch Android based smartphones and 3G Tablet within a couple of months,” Lava International co-founder and director S N Rai said.
Mobile handset company, Lava International said it expects to end the fiscal with revenue of Rs 1,000 crore.
“We are expecting revenue of Rs 1,000 crore during this financial year. Lava will launch Android based smartphones and 3G Tablet within a couple of months. Our focus will remain on enhancing our research and development capability,” Lava International co-founder and director, S N Rai, told reporters. He said Lava is looking for expansion of business in Africa and looking at new geographies namely Peru and Chile. Elaborating on the company’s focus on research and development, Rai said that company has been successful in filing two patents and many more are in pipeline.
“We are soon going to expand our smartphone portfolio for which we will file large number of patents,” he said.
Rai added that within two months, Lava will launch its 3G tablet. He indicated that Lava is more eager to launch 4G devices than building up its 3G portfolio. The company today launched a robust feature phone A16 priced at Rs4,500 in partnership with music TV channel MTV.
Chief marketing officer of Lava, Sunil Raina, demonstrated the phone will remain safe even if dropped from five feet and the screen will remain unharmed even if someone with weight of up to 95 kg jumps on it.
"The logistics business has great potential and is expected to grow by another 20% year-on-year," Atlas Logistics chairman and managing director, Venkatesh Rao said.
Atlas Logistics, recently acquired by Japan's SBS Group, is eyeing 212% growth in revenue at Rs750 crore in five years on the back of growing demand in the sector, a top company executive has said. "The logistics business has great potential and is expected to grow by another 20% year-on-year. We have major expansions lined up, which will help in taking our revenue to Rs750 crore in another five years," Atlas Logistics chairman and managing director, Venkatesh Rao said.
The company's revenue is expected to be around Rs240 crore in FY12, he added. The Japan-based logistics company SBS Holdings bought out 80% stake in Atlas Logistics, the deal size was around Rs130 crore. The remaining 20% will remain with Atlas Logistics. The Bangalore-based company with a core expertise in food distribution, with about 2,500 customers, is looking at 20-25% growth in next 2-3 years on the back of new verticals, he added. "Our core strength lies in food distribution and we will expand it to entire agriculture sector, which has great potential," he said. The company is also planning to expand into verticals like warehousing, cold storage and refrigeration and some infrastructure services that is the core strength of the SBS Group, he said adding "this will not only increase our service offerings but will also attract more customers." SBS Group will infuse about USD 15-20 million as working capital for this expansion, he said