Vikram Akula steps down from SKS Micro board; stk up 5%

Vikram Akula has been step down from SKS Microfinance board yesterday. PH Ravi Kumar will take over as interim non-executive chairman, reports CNBC-TV18.

The company said that, Vikram Akula's resignation is voluntary and there was no pressure from board. The company has not given severance package to Vikram Akula. Mr Vikram Akula has signed a non-compete agreement, reports CNBC-TV18.

Read full interview of PH Ravikumar

The share touched an intraday high of Rs 121.80 and an intraday low of Rs 118. At 09:18 hrs the share was quoting at Rs 121.80, up Rs 5.80, or 5%.
There were pending buy orders of 11,895 shares, with no sellers available. It was trading with volumes of 120,396 shares.
 
In the previous trading session, the share closed up 4.98% or Rs 5.50 at Rs 116.