In a major management rejig that brings in the next generation to helm affairs at Ahmedabad-based Torrent Power Ltd., Chairman Sudhir Mehta's son Jinal Mehta's appointment as managing director was approved by the Board of Directors of the company. The Board on Wednesday also accepted Sudhir Mehta's desire to relinquish his position as Executive Chairman, in turn requesting him to accept the position of Chairman Emeritus. The company's Board also approved appointment of Sudhir Mehta's brother Samir Mehta as Chairman of Torrent Power Limited for a period of five years with effect from April 1, 2018 subject to shareholders' approval in the Annual General Meeting (AGM).In the past, Torrent Group's two major businesses - power and pharma - had been divided between brothers Sudhir Mehta (63) and Samir Mehta (54). However, the group has now begun a management rejig that will eventually see the next generation helming affairs at these businesses in near future.Armed with an MBA in ...
Govt should suitably dispose of hazardous medical waste, said PHDCCI
The stock was up 6% to Rs 184 on the BSE intra-day trade
The company's stand-alone net profit decreased by 41.92% to Rs 138.68 crore in the second quarter of this financial year
It is likely to be the firm's first import tender
The stock dipped 12% to Rs 199 on the BSE
Thus far in 2016, Torrent Power zoomed 44% and Finolex Ind surged 22% as compared to 5% decline in Sensex
The stock rallied nearly 7% to Rs 242 after the company announced an interim dividend of Rs 4.5 per share (45%) for the current fiscal,