Tube Investments modifies board composition; stock tumbles ~2%

17 Mar 2022 , 11:26 AM

The Board of Directors of Tube Investment of India Limited has approved the appointment of Mukesh Ahuja as an Additional Director and as the Managing Director (Key Managerial Personnel) of the Company for a term of 5 (five years) effective from April 1, 2022.

Apart from this, the company has also appointed Tejpreet Singh Chopra as an Additional Director, designated as lndependent Director for a period of 5 (five) years effective from March 16, 2022.

TI India also appointed M A M Arunachalam, presently the Chairman (non-executive, promoter) of the Board of Directors as a Whole-time Director (Key Managerial Personnel) designated as the Executive Chairman, for a term of 5 (five years), effective from April 1, 2022.

It has also approved the appointment of Vellayan Subbiah, presently the Managing Director (executive, promoter) (Key Managerial Personnel) of the Company, as a Whole-time Director (Key Managerial Personnel) designated as the Executive Vice Chairman, for a term of 5 (five years), effective from April 1, 2022.

TI India is currently trading at Rs1,505.95 down by Rs23.95 or 1.57% from its previous closing of Rs1,529.90 on the BSE. The scrip opened at Rs1,552.50 and has touched intraday high and low of Rs1,552.50 and Rs1,501.65 respectively.