Removal of CEO

CEO resignedManagement Changes View source PDF Explain this filing

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

-3.3%Reaction day

₹8.99

prior close

₹9.13

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.5%-4.8% vs market

Trading & Distributors peers, median of 127sector+0.0%-3.3% vs sector

On the reaction day the stock moved 4.8 pts less than Nifty Microcap 250 and 3.3 pts less than its Trading & Distributors 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

-3.3+1.5-4.8+0.0-3.3

Next day

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UpDownMarket · Nifty Microcap 250Sector · Trading & Distributors peers, median of 127Pending

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

AI summary

Newtrac Foods & Beverages held a board meeting on 28th July 2025 with two key outcomes. First, the board approved the unaudited financial results for the quarter ended 30th June 2025, along with the limited review report from statutory auditors. Second, the board removed Mr. Vishal Kelkar as CEO with immediate effect. The company stated that Mr. Kelkar was hired specifically to oversee the Holkar Project, but since the project terms were not fulfilled, it did not progress as expected. The meeting lasted from 6:00 PM to 7:00 PM. Mr. Bhavin Yogesh Shukla signed the disclosure as Managing Director.

Likely market impact

The CEO removal signals trouble with the Holkar Project and raises governance questions about project execution. Shareholders should watch for further updates on the project's status and whether a replacement CEO is appointed, as this could affect the stock's short-term sentiment.