🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Vinay Tonse takes helm as SBI MD, Vascon Engineers secures Pune hospital contract

EditorHari Govind
Published 2023/11/21, 06:32
© Reuters.

MUMBAI - State Bank of India (SBI) has appointed Vinay M Tonse as its Managing Director until November 2025, marking a significant leadership change at India's largest lender. Meanwhile, infrastructure development took a leap forward as Vascon Engineers bagged a ₹356.78 crore project to construct a hospital in Pune.

In the banking sector, SBI's announcement on Monday about Tonse's new role comes at a time when the bank is navigating through a rapidly evolving financial landscape. The appointment is expected to bring continuity and stability to the bank's operations.

On the construction front, Vascon Engineers' new project underscores the company's growing presence in the healthcare infrastructure domain. The Pune hospital project is a substantial addition to their portfolio and reflects the ongoing expansion in India's medical facilities.

In other industry news, Container Corporation of India (Concor) has partnered with Indraprastha Gas to bolster LNG infrastructure, indicating a strategic move towards cleaner energy solutions. This collaboration aims to enhance the availability and accessibility of liquefied natural gas across various sectors.

Additionally, Oberoi Realty has announced the launch of 'Forestville,' a new luxury residential project that caters to the increasing demand for upscale living spaces. This development signifies the company's commitment to expanding its footprint in India's luxury real estate market.

The Indian Railway Catering and Tourism Corporation (IRCTC) has also made strides by commencing operations at a new Rail Neer plant, which is set to increase its water bottling capacity significantly. Furthermore, IRCTC has opened up long-term train catering tenders, paving the way for enhanced service delivery in railway catering.

In the stock exchange sphere, BSE has made an additional investment of ₹78.57 lakh in India ICC, reflecting confidence in the growth potential of commodity exchange initiatives.

These developments across various sectors highlight India's dynamic economic environment and underscore the nation's commitment to growth and modernization in both financial services and infrastructure.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.