Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations )

Management Changes View source PDF Explain this filing

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

-0.8%Reaction day

₹677.95

prior close

₹673.30

announcement price

In-mkt

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Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)+0.5%-1.3% vs market

Iron & Steel peers, median of 9sector-0.0%-0.8% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Midcap 150 and 0.8 pts less than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-0.8+0.5-1.3-0.0-0.8

Next day

+2.1+1.1+1.0+2.3-0.2

+1.9+1.5+0.4+2.1-0.2

+4.4+2.2+2.3+1.0+3.4

+4.0+2.0+2.0+2.1+1.9

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+0.2+2.1-1.9+3.3-3.2

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+18.0-0.4+18.4+0.5+17.5

+16.6-0.7+17.3+11.2+5.5

UpDownMarket · Nifty Midcap 150Sector · Iron & Steel peers, median of 9Pending

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

AI summary

Jindal Stainless Limited's board, at its meeting on June 25, 2025, approved two key items. First, Mr. Tarun Kumar Khulbe, the existing CEO and Whole-time Director, will additionally take on the role of Chief Financial Officer (CFO) with effect from the same date. Mr. Khulbe has 35 years of industry experience and has been with the company since 2004, having been appointed CEO in January 2024. Second, the board approved making PT Glory Metal Indonesia (PT GMI) a step-down subsidiary by giving Jindal Stainless the right to appoint a majority of directors on PT GMI's board. PT GMI is a joint venture set up to build and operate a 1.2 million tonnes per annum stainless steel melt shop in Indonesia, in which Jindal Stainless currently holds 49% through a wholly-owned subsidiary. The change is expected to be completed in Q2 FY26, with no change in the existing shareholding pattern of PT GMI.

Likely market impact

Combining the CEO and CFO roles in one person may raise governance concerns for investors who prefer these functions to be held independently, even though it can bring sharper strategic focus. Making PT GMI a step-down subsidiary strengthens Jindal Stainless's control over its Indonesia melt shop project, supporting its global manufacturing and supply chain ambitions in stainless steel.