India's CE Info systems extends fall as CEO steps down

CE Info Systems

03/12/2024 06:40

** Shares of CE Info systems  CEIF.NS  slide 7.6%, top loser
in the Nifty 500 index  .NIFTY500 
    ** Digital maps and geospatial software provider is down for
the second session, losing 11%
    ** Co said last week CEO Rohan Verma will step down and
start a new company in which CEIF will take 10% stake, investing
350 million rupees ($4.13 million)
    ** The only grudge investors could have is departure of
Rohan from CEO position, JM Financial said in a note
    ** Relatively unexposed leadership cadre could unnerve
investors, brokerage added
    ** CEIF down 20% YTD vs an 18% gain in Nifty 500 YTD 
    
    




($1 = 84.7450 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))