Balaji Telefilms' CEO Sameer Nair to step down from executive role, stock tanks 7%

Moneycontrol News

Balaji Telefilms shares crashed over 7 percent after the company announced the stepping down of its Group CEO Sameer Nair from an executive capacity.

"Nair was formerly in an advisory role with the company and now, on the successful completion of his 3-year term, he relinquishes his executive role with effect from July 15 and returns to an advisory capacity," the media company said.

The stock price closed at Rs 158.95, down Rs 12.45, or 7.26 percent amid high volumes on the BSE.