The Board of Directors of Shiva Cement Limited in its meeting held today i.e. 23rd March 2026, has considered and approved Re-appointment of Mr. Manoj Kumar Rustagi as Whole-Time Director and CEO.
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On the reaction day the stock moved 5.8 pts less than Nifty Microcap 250 and 4.4 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shiva Cement's board has approved the re-appointment of Mr. Manoj Kumar Rustagi as Whole-Time Director and CEO for a further 3-year term, effective June 26, 2026 to June 25, 2029, subject to shareholder approval. Mr. Rustagi has been associated with the company since February 2017 and also serves as Chief Sustainability Officer of the parent company, JSW Cement Limited. He holds an engineering degree from BITS and a post-graduate programme from ISB, with about 30 years of experience across cement, steel and IT sectors. The filing confirms he is not debarred from holding the office of Director by SEBI or any other authority.
This is a continuity announcement with no change in leadership — the existing CEO continues for another 3-year term. The stock is unlikely to see any material reaction, though it provides stability for ongoing strategic execution at the company.