Eureka Forbes' MD & CEO resigns; stock surges 12% on heavy volumes

Eureka Forbes said the board of directors of the company has accepted the resignation of Marzin R. Shroff as the MD and Chief Executive Officer (Executive Director) of the company

Shares of Eureka Forbes surged 12 per cent to Rs 316.40 on the BSE in Tuesday's intra-day trade amid heavy volumes. At 10:52 AM, the stock of the household appliances was trading 10 per cent higher at Rs 312 as compared to 1.4 per cent rise in the S&P BSE Sensex.

The trading volumes on the counter jumped over 20-fold with 1.04 million equity shares having changed hands, so far, against an average sub 50,000 shares traded on the BSE.

Meanwhile, Eureka Forbes said on June 20, 2022, that the board of directors of the company has accepted