Board notes MD Jitendra Kochar's resignation, appoints Ajit Kochar as new MD

Ceo ResignedManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.6%Reaction day

₹29.70

prior close

₹30.99

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.3%+3.9% vs market

Other Financial Services peers, median of 83sector-0.5%+3.1% vs sector

On the reaction day the stock moved 3.9 pts more than Nifty Microcap 250 and 3.1 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

-1.6

30m

-1.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.6-1.3+3.9-0.5+3.1

Next day

+0.5-1.3+1.8-0.6+1.1

—+0.0—-0.5—

+4.4-0.2+4.6+0.0+4.4

+1.0-3.0+4.0-1.6+2.6

-8.0-2.7-5.3-1.4-6.6

-7.0-1.7-5.3-2.7-4.3

15d

—-8.9—-5.8—

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UpDownMarket · Nifty Microcap 250Sector · Other Financial Services peers, median of 83Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board meeting on 1 Oct 2026 noted the resignation of Managing Director Mr. Jitendra Kochar, effective from the 33rd AGM held on 17 Sept 2026. The Board appointed Mr. Ajit Kochar as the new Managing Director, subject to shareholder ratification. The Board also appointed Mr. Dinesh as the new Chairman of the Audit Committee and discussed options for monetisation of the company's immovable properties to unlock value.

Likely market impact

Leadership transition at MD level. Property monetisation plans could benefit shareholders if value is unlocked successfully.