Tata Metaliks' MD Sandeep Kumar resigns; stock dips ~2%

23 Sept 2022 , 09:21 AM

Tata Metaliks Limited informed that Sandeep Kumar, the company’s Managing Director has expressed his intention to step down from the services of the company.

His resignation will be effective from the close of business hours on October 31, 2022, to take up a similar opportunity within the Tata Steel Group.

The Board took note of the said resignation on September 22, 2022. Accordingly, Mr. Sandeep Kumar will cease to be the Managing Director and Key Managerial Personnel of the Company from the close of business hours of October 31, 2022, said the company in a regulatory filing.

As per the company, Alok Krishna will take charge of the post of Managing Director effective from November 1, 2022. He shall also be appointed as an Additional Director on the board.

This announcement came after the company board’s approval to amalgamate Tata Metaliks into parent Tata Steel, instead of Tata Steel Long Products, as intimated earlier.

At around 9.18 AM, Tata Metaliks was trading at Rs783.80 down by 2.1% from its previous closing of Rs800.65 on the BSE.

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