Announced Tue, 13 Oct, 2026 · 15:23 IST

Independent Director completes 5-year term

Management Changes View source PDF Explain this filing

Price

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

-5.9%Reaction day

₹24.88

prior close

₹23.40

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-6.1% vs market

Auto Components & Equipments peers, median of 124sector+0.0%-5.9% vs sector

On the reaction day the stock moved 6.1 pts less than Nifty Microcap 250 and 5.9 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Sessions after the filingfrom the prior close

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Reaction day

-5.9+0.2-6.1+0.0-5.9

Next day

-2.6+0.9-3.5+0.4-3.0

-0.7-0.8+0.0-0.3-0.4

+0.5-0.1+0.6+0.2+0.3

-2.6-1.7-0.8-1.9-0.7

-3.5-4.3+0.8-4.0+0.5

-8.2-7.5-0.7-6.4-1.8

15d

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 124Pending

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

AI summary

EL Forge Limited has informed BSE that Mr. S. Balakrishnan (DIN: 08723052), Independent Director, stepped down from the board with effect from close of business on 12 October 2026 after completing his first five-year term. This is a routine end-of-term retirement, not a resignation. The company has filed the required disclosure under SEBI Listing Regulations.

Likely market impact

Routine end-of-term exit of an independent director. No governance concerns. Standard SEBI disclosure filed.