The Board of Cholamandalam Investment and Finance Company Limited at its meeting held this afternoon has approved the changes in the constitution of the Board of directors of the Company, subject to the approval of the members at the next general meeting of the Company.
The Board approved the appointment of Mr. N Srinivasan as an Executive Vice Chairman and Managing Director of the Company for a term of two years effective August 19, 2017 and the appointment of Mr. Arun Alagappan as an Executive Director of the Company for a term of five years effective August 19, 2017.
It may be noted that as per the terms of appointment approved by the members at the thirty eighth annual general meeting of the Company held on July 29, 2016, Mr. Vellayan Subbiah, the current Managing Director holds office till August 18, 2017.
Shares of Cholamandalam Investment and Finance Company Ltd was last trading in BSE at Rs.983.5 as compared to the previous close of Rs. 953.35. The total number of shares traded during the day was 13214 in over 1041 trades.
The stock hit an intraday high of Rs. 989 and intraday low of 950. The net turnover during the day was Rs. 12903685.