Marico appoints Rajat Diwakar as Managing Director of material subsidiary; stock zooms ~2%

28 Apr 2022 , 01:13 PM

Marico Limited informed that its material subsidiary Marico Bangladesh Limited has appointed Rajat Diwakar as Managing Director of MBL with effect from July 1, 2022, subject to the approval of shareholders of MBL.

The company further stated in its filing, “Ashish Goupal, existing Managing Director of MBL, has been identified for a leadership role in the international business group of Marico Limited as Chief Operating Officer for Bangladesh, MENA, and NCD Business. Accordingly, he has been appointed as a Non-Executive/Nominee Director of MBL with effect from July 1, 2022, subject to the approval of shareholders of MBL.”

Post this development, Marico’s counter gained 1.75% and was trading at Rs539.15 against its previous close of Rs529.90 on NSE. So far in the day, it touched intraday high and low of Rs539.60 and Rs525.95 respectively.