India's Grasim skids after paint unit CEO resigns

Britannia Industries

06/11/2025 04:08

** Shares of Grasim Industries GRAS.NS decline 3.6% to 2,778.8 rupees

** Rakshit Hargave, who led co's paint unit Birla Opus, resigns and will join Britannia Industries BRIT.NS

** Given the ex-CEO's active engagement on scaling the paints business amid tough competition, investor sentiment may be cautious in near-term - Jefferies

** Adds, the resignation is a "negative surprise" for Grasim

** BRIT up 3.8% on the day

** GRAS rated "buy" on avg - data compiled by LSEG

** Stock up ~14% so far in 2025

 (Reporting by Manvi Pant)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))