Redington India Ltd's MD steps down

The Board of Directors of Redington (India) Ltd at its meeting held on October 17, 2014, had considered and approved the proposal to put in place a robust succession plan for the Company, Mr. R. Srinivasan currently the Managing Director of the Company would stepdown from this position on October 17, 2014. He would continue to be on the Board as its Vice Chairman.

Mr. Raj Shankar, currently the Joint Managing Director would assume the responsibility of Managing Director of the Company effective October 17, 2014.

Shares of REDINGTON (INDIA) LTD. was last trading in BSE at Rs.94.55 as compared to the previous close of Rs. 93.6. The total number of shares traded during the day was 39790 in over 1000 trades.

The stock hit an intraday high of Rs. 95.25 and intraday low of 92.45. The net turnover during the day was Rs. 3733684.

Source : Equity Bulls

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