CEO Ashish Bhutda resigns; Shashwat Nigam named new CEO

CEO resignedExternal CEO appointedManagement Changes View source PDF Explain this filing

PRAXIS · price

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

+2.2%Reaction day

₹6.84

prior close

₹6.66

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+3.7%-1.5% vs market

On the reaction day the stock moved 1.5 pts less 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

+0.0

10m

+4.5

15m

+3.6

30m

+7.4

Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

+2.2+3.7-1.5

Next day

+3.2+5.1-1.9

+10.5+4.0+6.5

+15.9+3.2+12.7

+21.6+5.9+15.8

+27.6+6.9+20.7

+31.4+5.9+25.6

15d

+17.8+2.1+15.8

+13.7-3.5+17.2

-11.0-4.2-6.7

+12.3+10.9+1.3

UpDownMarket · Nifty Microcap 250Pending

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

AI summary

Ashish Bhutda resigned as CEO and Whole Time Director effective Feb 2, 2026. Shashwat Nigam appointed as new CEO and additional Director from Feb 3, 2026. Nigam has 18+ years experience and has been consulting with Praxis for 7 months. He previously led national retail at Entero Healthcare and spent 14 years at Hindustan Unilever. Move is part of business stabilisation and turnaround plan.

Likely market impact

New CEO appointment signals turnaround push after leadership exit. Investor focus on execution of stabilisation plan and business recovery.