On BSE, shares of the firm fell 4.89 per cent and settled at Rs 363.05. During intra-day trade, the scrip had touched a low of Rs 361.10.
The stock ended at Rs 363.15, down 4.90 per cent, on NSE. It had reached an intra-day low of Rs 360.60.
The firm's market valuation also fell by Rs 129.13 crore to Rs 2,525.15 crore.
On the volume front, 3.79 lakh shares of the firm were traded on BSE and over 34 lakh shares changed hands on NSE.
Krishnamachari will be relieved from his position on September 30, 2017, as per the filing.
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