Will not oust Shishir from group companies: Rahul Bajaj
Mumbai: The chairman of Bajaj Auto, Rahul Bajaj said there was no intention to oust brother Shishir Bajaj from any of the family's group companies.

He said Bajaj Auto has controlling stakes in Bajaj Hindusthan and Bajaj Consumer Care and could have ousted Shishir Bajaj at any time but there was no intention to do so. (Also see interview: No desire to take over Bajaj Hindusthan)

This refers to allegations made by Kushagra Bajaj, nephew of Rahul Bajaj and CEO of Bajaj Hindusthan that Rahul Bajaj and other family members were attempting to oust him and his father, Shishir Bajaj, from Bajaj Hindusthan and Bajaj Consumer Care.

Bajaj Auto recently acquired 1.9 per cent stake in sugar manufacturer Bajaj Hindusthan, which Rahul Bajaj said was a "treasury operation".

"Bajaj Auto has Rs8,500 crore of cash and we keep buying and selling shares in the normal course of business," he said. The purchase was done at an average price of Rs155 per share.

As of December 2006, the promoters' holding in Bajaj Hindusthan was 37.71 per cent. Of this, the largest part — 21.35 per cent — owned by holding company Bachhraj & Co Pvt Ltd.

Another holding company, Jamnalal Sons Pvt Ltd, holds nearly 4 per cent stake. With the public holding over 59.58 per cent, it is possible for any interested party to pick up additional stakes in the company, said analysts.
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Nokia appoints Sachin Saxena as director for India
Nokia India has announced the appointment of Sachin Saxena as its new director-India operations for the Chennai manufacturing factory.

He takes over from Jukka Lehtela. Saxena moves from LG Electronics with over 17 years of manufacturing and operations experience from Hindustan Lever, Whirlpool and more recently from LG.
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Himadri Sen is Ranbaxy's R&D chief
New Delhi: Ranbaxy Laboratories has appointed Dr Himadri Sen as president - R&D (generics & NDDS). Dr Sen, with a Masters in Pharmacy from the University of Manchester, UK, and a PhD. from Bundelkhand University, Jhansi, has been associated in various capacities with organisations such as Manchester Area Health Authority, UK; St. Mary's Hospital and International Development Laboratories, UK; Imperial Chemical Industries, UK; E.R. Squibb and Sons Ltd, UK; Lupin and Ranbaxy Labs, India.
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Vedanta Resources recruits retired defence personnel
Mumbai: The Anil Agarwal-led Vedanta Resources has hired 120 retired defence personnel into its group.

Anil Agarwal, chairman, Vedant, said these personnel are involved in activities ranging from security, admini-stration, safety, CSR and production.

He said this initiative had led the Group to limit attrition rates within single-digit figures, against the industry average of 18 per cent. Other initiative had been to put importance on job rotation and make sure that nobody has the same work profile for more than three years.
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