India's Poonawalla Fincorp falls as chief technology officer resigns

Poonawalla Fincorp

09/12/2024 08:33

** Shares of non-banking finance co Poonawalla Fincorp
 POON.NS  fall as much as 3.3% to 341.60 rupees; last down 1.4%
    ** Co says Dhiraj Saxena resigns as chief technology officer
    ** Resignation letter says exit "due to harassment and
un-necessary interventions" of chief human resources officer 
    ** POON on track for third straight session of losses, if
trend holds
    ** Avg rating of eight analysts covering POON at "buy" vs a
"hold" rating for peer Mahindra and Mahindra Financial Services
 MMFS.NS  - LSEG data
    ** POON's median PT is at 360.50 rupees - LSEG data
    ** Stock down ~20% so far this year, on track to snap
three-year gaining streak; while MMFS is up ~1%


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))