Business Standard

SKS drops 5.5% on Akula's resignation buzz

Related News

has dropped to a new low on reports that may resign as executive chairman of the company he founded in 1998.

If Akula leaves the company, it will be the second high-profile departure after the exit of Suresh Gurumani, former chief executive of SKS, last year. There is also speculation the micro-lender will appoint P H Ravikumar, a board member of SKS and head of Invent Assets Securitisation and Reconstruction, as the non-executive chairman.

The stock that touched Rs 1,491 in September last year is now a shadow of its former self at Rs 112. Earlier in the day it touched a low of Rs 105 - down 5.4% from the previous close. The counter has seen hefty trade volumes with 1,66,000 shares being traded so far on the BSE, as against a two-week average of 1,62,000 shares.

Read more on:   
|
|

SKS drops 5.5% on Akula's resignation buzz

If Akula leaves the company, it will be the second high-profile departure after the exit of Suresh Gurumani, former chief executive of SKS, last year. There is also speculation the micro-lender will appoint P H Ravikumar, a board member of SKS and head of Invent Assets Securitisation and Reconstruction, as the non-executive chairman.

SKS Microfinance has dropped to a new low on reports that Vikram Akula may resign as executive chairman of the company he founded in 1998.

If Akula leaves the company, it will be the second high-profile departure after the exit of Suresh Gurumani, former chief executive of SKS, last year. There is also speculation the micro-lender will appoint P H Ravikumar, a board member of SKS and head of Invent Assets Securitisation and Reconstruction, as the non-executive chairman.

The stock that touched Rs 1,491 in September last year is now a shadow of its former self at Rs 112. Earlier in the day it touched a low of Rs 105 - down 5.4% from the previous close. The counter has seen hefty trade volumes with 1,66,000 shares being traded so far on the BSE, as against a two-week average of 1,62,000 shares.

image

Read More

Bank of India shares fall intra-day on freak trade speculation

Shares of Bank of India today fell nearly 8% for a brief period on the National Stock Exchange during afternoon trade on speculation of freak trades, ...

Recommended for you

Quick Links

Market News

India's cotton output to decline marginally on delayed sowing, low yield

Data compiled estimates total cotton output at 39 mn bales this season ending September 2015 as against 39.8 million bales reported last year

2014-15: An exceptionally bad year for commodities

FY15 has been a watershed year for commodities, with the prices of many - iron ore, crude oil, precious metals, wheat, sugar, cotton, edible ...

Today's picks- 31 March 2015

Nifty, Bank Nifty, Tata Steel, BPCL & Hindalco

FY15 returns: Markets, debt top the charts

A look at real returns given by various asset classes in 2014-15

Oil drops to $55 as Iran nuclear talks intensify

Russian Foreign Minister Sergei Lavrov told reporters in Moscow he believed the talks had a good chance of success

 

Back to Top