Onida board reshuffle: new CFO appointed, Shirish Suvagia resigns

Cfo ResignedKmp ResignedCeo Appointed ExternalManagement Changes View source PDF Explain this filing

ONIDA · price

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

+0.3%Reaction day

₹44.00

prior close

₹44.25

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.2%+0.1% vs market

On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250, 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

Stock

+0.8

10m

+1.1

15m

+1.2

30m

+1.2

Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

+0.3+0.2+0.1

Next day

-2.7-0.5-2.2

-3.4-2.5-0.9

-2.3-0.6-1.7

-4.5+0.7-5.3

-7.8+0.9-8.7

-11.4+0.5-11.9

15d

-12.6-0.2-12.4

-16.1+2.9-19.0

-21.3+5.0-26.3

-29.0+3.7-32.7

UpDownMarket · Nifty Microcap 250Pending

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AI summary

Onida board changes effective July 4: Mr. Shirish Suvagia resigned as Whole-time Director and CFO. Mr. Manish Desai (ex-VIP Industries, Voltas) takes over as CFO, Whole-time Director and KMP for 3 years. Mr. Gunjan Srivastava formally appointed as CEO and Managing Director. Mr. Kaval Mirchandani moves to Whole-time Director from MD. Mr. Jayesh Gandhi (ex-S.R. Batliboi) joins as Independent Director for 5 years. Also granted 12,50,000 ESOPs.

Likely market impact

CFO exit with quick replacement, formalization of CEO shows board stability. ESOP grant may cause minor equity dilution.