ADITYA GHOSH, INDIGO’S FORMER CEO, CHECKS INTO OYO ROOMS
NEW DELHI: Oravel Stays Pvt. Ltd, which owns and operates budget hotel chain Oyo Rooms, on Thursday announced that Indigo’s former president and chief executive officer (CEO) Aditya Ghosh will lead its operations in India and South Asia. Ghosh, who spent more than a decade heading India’s largest airline, Indigo, run by Interglobe Aviation Ltd, and resigned in July this year, will report to Ritesh Agarwal, founder and group CEO at Oyo Hotels and Homes, the company said. His stint at Oyo, which will begin on December 1, is in line with the strategy at Oyo, which has over the years carefully built a strong base of C-suite executives, including chief human resources officer Dinesh Ramamurthi, strategy officer Maninder Gulati, chief operating head Abhinav Sinha, growth head Kavirut, and chief of business development Anuj Tejpal.
Govt plans offer for sale of GIC, New India Assurance
NEW DELHI: The Finance Ministry on Thursday said it is planning to come out with a share sale offer of two recently listed insurance companies—gic and New India Assurance. State-owned reinsurer General Insurance Corporation of India (GIC) was listed on the bourses in October last year, while New India Assurance Co. Ltd made its stock market debut in November last year. The Department of Investment and Public Asset Management (DIPAM) on Thursday invited expression of interest (EOI) from merchant bankers and selling brokers for managing the offer for sale (OFS) of GIC and New India Assurance. Merchant bankers, who can bid singly or as a consortium, can apply for assisting the government in the stake sale process by December 7, 2018, said the EOI floated by DIPAM.
Sensex ends 119 points higher at 35,260.54
MUMBAI: The BSE benchmark Sensex ended 119 points higher on Thursday and the broader Nifty went past the 10,600 mark on positive investor sentiment amid easing crude oil prices and firm rupee. The 30-share index opened a shade higher at 35,145.75 points, hovered in the range of 35,402 and 35,118.42, before ending the session at 35,260.54, with a gain of 118.55 points, or 0.34%, over its previous close. The gauge had shed 2.50 points on Wednesday in a highly volatile session. The NSE Nifty also closed 40.40 points, or 0.38%, higher at 10,616.70 after shuttling between 10,646.50 and 10,557.50. Global crude oil prices have fallen nearly 30% to $65 per barrel from over $86 in early October. Brent crude fell 0.47% to $65.81 per barrel. Meanwhile, the rupee strengthened further by 44 paise to trade at 71.87 against the dollar.
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