Dr. Basant Garg, IAS appointed as Chairman replacing Gurkirat Kirpal Singh

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

-6.3%Reaction day

₹56.98

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-6.5% vs market

Telecommunication peers, median of 28sector · sector level+0.3%-6.6% vs sector

On the reaction day the stock moved 6.5 pts less than Nifty Microcap 250 and 6.6 pts less than its Telecommunication 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

-6.3+0.2-6.5+0.3-6.6

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-4.0+0.9-4.9+0.5-4.5

-5.8-0.8-5.0-0.9-4.9

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-7.9-7.5-0.4-7.4-0.4

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UpDownMarket · Nifty Microcap 250Sector · Telecommunication peers, median of 28Pending

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

AI summary

Holding company Punjab Infotech has nominated Dr. Basant Garg, IAS (DIN: 07937460) as Director-cum-Chairman of Punjab Communications Ltd with effect from October 1, 2026. He replaces Gurkirat Kirpal Singh, IAS, whose nomination was withdrawn by the holding company. Dr. Garg is a 2005 batch IAS officer currently serving as Administrative Secretary, Industries and Commerce in Punjab. The board approved the change by resolution passed by circulation on October 12, 2026.

Likely market impact

Routine government-nominated board change at a state PSU subsidiary. No material impact on operations or shareholders expected.