UFO Moviez hits new 52-week high as Rajesh Mishra assumes MD's position

18 Apr 2022 , 11:35 AM

UFO Moviez India Limited’s counter jumped to a new all-time high of Rs138.70 in today’s trade as the company announced changes in its management.

The company has informed that its current Joint Managing Director, Kapil Agarwal, is turning 62 years this year and has decided to step down from active management and his role. However, the board has accepted his offer to continue as the Non-Executive Director of the company.

The company informed that Kapil’s role will be largely assumed by Rajesh Mishra, President and Group CEO of the Company. With more than 30 years of experience in media, films, television, and the print industry, Rajesh has been associated with the Company since 2006 and is currently responsible for the overall operation of the Company.

Subject to necessary approvals, he will be appointed as a member of the Board of the Company and elevated to the position of Executive Director. Rajesh is a qualified Chartered Accountant and has, amongst others, rich experience of working with companies like Zee Network and Bennett, Coleman & Co. Ltd (The Times of India Group) in leadership positions.

At around 11.39 AM, UFO Moviez India was trading at Rs136.15 up by Rs11.9 or 9.58% from its previous closing of Rs124.25 on the BSE.