Crompton Greaves slumps down

Crompton Greaves CE is currently the top loser on the BSE; opening over 3% lower at Rs.284.95, it slipped down further by 13% to hit a new 52-week low at Rs.256.05, trading currently around the same levels.

Any change in the top management will always make the market jittery as it sparks uncertainty over the future path.

That’s what happened in Crompton – yesterday, Mathew Job resigned as CEO and Director of the company to pursue other career interests.

The company announced Shantanu Khosla, who was the MD of the company to now take on the role of Executive Vice Chairman of the company's board for a year from May 1, 2023.