Kolte Patil Developers drops after announcing resignation of CEO

Kolte Patil Developers fell 4.73% to Rs 152 at 15:29 IST on BSE after the company announced that chief executive officer of the company has stepped down from his position to pursue other opportunities.

The announcement was made during market hours today, 20 November 2015.

Meanwhile, the BSE Sensex was up 33.50 points or 0.13% at 25,875.42

On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 3,841 shares in the past two weeks.

The stock hit a high of Rs 161.75 and a low of Rs 150.90 so far during the day. The stock hit a 52-week high of Rs 240 on 6 April 2015. The stock hit a 52-week low of Rs 136.50 on 25 August 2015.

The small-cap firm has an equity capital of Rs 75.77 crore. Face value per share is Rs 10.

Kolte Patil Developers said that the company's chief executive officer (CEO) Sujay Kalele has stepped down from his position to pursue other opportunities. Sujay Kalele will continue in the executive position till 31 December 2015 and will be associated with the company in an advisory role till 31 March 2016, Kolte Patil Developers said.

Kolte Patil Developers' consolidated net profit rose 3.7% to Rs 13.18 crore on 0.9% fall in total income to Rs 158.39 crore in Q2 September 2015 over Q2 September 2014.

Kolte Patil Developers is a Pune-based real estate developer.

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