Managing Director resigns; Gaurang Shah appointed

Management Changes View source PDF Explain this filing

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

+0.2%Reaction day

₹99.50

prior close

₹103.40

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.0%+1.2% vs market

Industrial Products peers, median of 127sector-0.8%+1.0% vs sector

On the reaction day the stock moved 1.2 pts more than Nifty Microcap 250 and 1.0 pts more than its Industrial Products 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

-3.3

10m

-3.3

15m

-3.3

30m

-6.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.2-1.0+1.2-0.8+1.0

Next day

+1.5-3.3+4.8-3.4+4.9

+3.0-2.9+6.0-3.4+6.5

+4.5pendingpending-0.9+5.4

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15d

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UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 127Pending

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

AI summary

Prashant Sudhir Khairnar resigned as Managing Director on 21 October 2026 due to changed professional commitments but will remain a director. The board appointed Gaurang Shah as Additional Director and Managing Director for five years, subject to shareholder and other approvals.

Likely market impact

The leadership change may cause short-term volatility. The handover needs shareholder approval, while the outgoing Managing Director will remain on the board.