Balaji Amines Share Price: Heavy selling was observed in one share of the stock market today. After getting one trillion, investors started selling shares indiscriminately, as a result of which the share price of the company fell by 15 percent. This rapidly falling stock belongs to Balaji Amines Company.
The company said in an exchange filing that Hemanth Reddy, Chief Financial Officer of Balaji Amines, had resigned on Saturday. The company told that Hemanth Reddy had resigned this resignation to remain focused on the subsidiary company Balaji Specialty Chemical Limited. On Monday, shares of Balaji Amines opened at Rs 1960.10 and after falling, reached a 52-week low of Rs 1872.90.
Five more resignations together
The company said that a total of six people have resigned along with Hemanth Reddy. The company said that independent directors Navina Thammashetty Chandra, Kashinath Revappa Dhole, Satyanarayana Murthy Chawli, Amarendra Reddy Meenupuri and Vimala Behram Madon have resigned. Because of these resignations, the shares of the company have fallen so fast. However, no specific reason has been given for his resignation.
Resigned due to SEBI rules
Satyanarayana Murthy Chawli, one of the independent directors, told CNBC-TV18 that all the independent directors had resigned only because of SEBI regulations, which require an independent director to step down after 10 years of service.
company market cap
On the technical front, there has been a decline of 37.3 per cent in its area. However, during the last one year, the share price of the company has seen a decline of 31.8 per cent. A strong difference is being seen with the stock volume. At present, it has reached its lowest level ever. The market cap of the company is Rs 7,471.99 crore.
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