Resignation of Mr. Prem Narain Varshney as Chairman and Managing Director of the Company

CEO resignedKey managerial personnel resignedPromoter family joins the boardManagement Changes View source PDF Explain this filing

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

+6.3%Reaction day

₹28.00

prior close

₹29.45

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+4.6%+1.6% vs market

Iron & Steel Products peers, median of 84sector+4.5%+1.7% vs sector

On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 1.7 pts more than its Iron & Steel Products 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

Stock

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10m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+6.3+4.6+1.6+4.5+1.7

Next day

+8.2+6.3+1.9+5.1+3.1

+13.2+8.1+5.2+7.5+5.7

+12.0+9.1+2.8+7.5+4.5

+12.7+10.0+2.7+9.2+3.5

+16.0+11.3+4.7+9.6+6.4

+11.4+11.0+0.5+8.9+2.5

15d

+10.7+13.3-2.6+8.9+1.7

+3.2+15.3-12.1+12.2-9.0

+9.7+17.0-7.3+14.7-5.0

-3.6+11.4-15.1+10.2-13.8

UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 84Pending

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

AI summary

Mr. Prem Narain Varshney resigned as Managing Director of Rathi Steel & Power Ltd effective May 9, 2025, citing health and medical issues as the reason. In the same board meeting, Mr. Mahesh Pareek was appointed as the new Managing Director (Additional Director) for a 5-year term, bringing around 40 years of industry experience across marketing, accounts, secretarial work, and strategic planning. Additionally, Ms. Surbhi Pareek was redesignated from Independent Director to Non-Executive Non-Independent Director due to a change in her independence status. The resignation and appointments are subject to shareholder approval.

Likely market impact

The MD transition appears orderly with an experienced replacement already in place, though the outgoing MD's health-related exit may raise minor governance questions. Shareholders should note the family connection between incoming MD Mr. Mahesh Pareek and existing director Ms. Surbhi Pareek (uncle-niece), which results in a related-party board composition.