MD and two directors resign at Magnus Steel; Karronn Bajaj elevated to MD
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 6.9 pts less than Nifty Microcap 250 and 6.9 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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On July 8, 2026, three directors resigned at Magnus Steel and Infra: Managing Director Chinmay Pradhan, Additional Executive Director Prakash Salve, and Independent Director Aarti Singh, all citing personal or professional commitments. Karronn Bajaj, son of Director Naresh Bajaj and brother of Executive Director Aditya Bajaj, was elevated from Director to Managing Director subject to shareholder approval. Board committees were reconstituted. Company says board remains compliant with applicable laws.
Major management churn with the MD exit and a promoter family member taking over the top role. Watch for governance and continuity concerns.