Interim Chairmen Named for IOC and HPCL

29 Aug 2024 CW Team

The government announced interim chairmen for two major oil firms, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL), as the search for permanent heads continues. According to an order from the oil ministry, Satish Kumar Vaduguri, the Director of Marketing at IOC, has been appointed as the interim chairman of the company for a three-month period beginning September 1. He will succeed Shrikant Madhav Vaidya, who will complete his extended term at the end of the month.

In a separate directive, the ministry named Rajneesh Narang, Director of Finance at HPCL, as the interim chairman and managing director for a three-month term starting September 1. Narang will take over from Pushp Kumar Joshi, who will retire upon reaching the age of 60 on August 31.

Due to the inability of the PESB to find suitable candidates, three-member search-cum-selection committees are now tasked with finding new leaders for both IOC and HPCL. On August 11, the panel interviewed nearly a dozen candidates and is reported to have shortlisted Sandeep Gupta, the former Director of Finance at IOC and current Chairman and Managing Director of GAIL. His appointment is now under review by the Appointments Committee of the Cabinet.

Vaidya, who began his role as chairman of IOC on July 1, 2020, was initially set to retire on August 31, 2023, upon reaching the age of 60. However, in an unusual decision, he was re-employed on a contract basis for one year beyond his retirement date, from September 1, 2023, to August 31, 2024, as stated in an official order dated August 4, 2023.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..