Ramesh Swaminathan, Chief Financial Officer of Lupin Pharma, has quit the company to pursue opportunities outside of pharmaceutical industry, the company said in a statement to the exchanges. Swaminathan was part of Lupin for the last 12 years where he was also a whole time director.
Lupin CFO resignation Announcement came post market hours on 27th Nov 2018. Next day Share price of pharma major Lupin declined more than 2 percent in the early trade on Wednesday after resignation of company’s CFO. However Lupin bottomed out in the first 1min of trade and manage to recover the losses very quickly followed by 1.86% gain on EOD.
CFO resignation News Sentiment reflected only at the Market Open with strong volumes however price manage to close higher for the day.