India's Shoppers Stop tumbles after MD & CEO resigns

Shoppers Stop

25/08/2023 05:15

** Shares of Shoppers Stop  SHOP.NS  falls as much as 9.8%
to 733 rupees, their steepest drop since April 29, 2022
    ** Department store operator says MD & CEO Venu Nair
resigned; promotes Chief Commercial Officer Kavindra Mishra as
executive director & CEO 
    ** More than 348,000 shares change hands in early trade, vs
30-day avg of 117,815 shares
    ** Six brokerages rate the stock "buy" or higher, 1 "hold"
and 4 "sell" or lower; their median PT is 850 rupees - Refinitiv
data
    ** Stock up ~15% this year, as of last close

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))