SKF India's stock slips ~5% as CFO Anurag Bhagania steps down

24 Feb 2022 , 10:00 AM

In its regulatory filing, SKF India Ltd. informed the exchanges and investors that its Chief Financial Officer (CFO) and Key Managerial Personnel Mr. Anurag Bhagania has decided to step down from his position, which has been subsequently approved by the Board in its meeting held on February 23, 2022.

His resignation shall be effective from February 22, 2022.

SKF India is a global manufacturer of a wide range of ball and roller bearings, such as deep groove, taper roller, and other types. SKF is a supplier of these bearings to many industries including power, electrical, automotive, steel, cement, and textile industries.

Following this development, SKF India’s stock skids 4.89% lower at Rs3,196.10 against its previous closing price of Rs3,360.55. It opened at Rs3,275 and touched day’s low of Rs3,196.05 so far.