Manager and KMP Ms. Banmala Jha passes away aged 70

Management Changes View source PDF Explain this filing

HBESD · price

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

-0.5%Reaction day

₹75.20

prior close

₹74.83

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-0.7% vs market

Residential Commercial Projects peers, median of 64sector-0.1%-0.4% vs sector

On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.4 pts less than its Residential Commercial Projects 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

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Sessions after the filingfrom the prior close

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Reaction day

-0.5+0.3-0.7-0.1-0.4

Next day

-0.9-0.2-0.7-0.3-0.6

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-6.3+0.2-6.5-4.6-1.7

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UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 64Pending

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

AI summary

HB Estate Developers has informed stock exchanges about the demise of Ms. Banmala Jha, Manager designated as Key Managerial Personnel, on August 23, 2026. She was 70 years old and had been associated with the company for a long time, contributing to its growth. The disclosure was filed under SEBI LODR Regulation 30. The company will need to appoint a replacement Manager to comply with Section 203 of the Companies Act, 2013.

Likely market impact

Loss of a long-serving KMP. The company must appoint a replacement Manager. Typically a neutral event for shareholders, barring operational gaps.