Repco Home Finance Appoints A. Palpandi As New COO
According to the exchange filing, A. Palpandi will be considered as a full-time employee, governed as per policy of the company.
(Representative image. Source: Envato)
A. Palpandi, general manager at Repco Home Finance Ltd., has been appointed as the chief operating officer of the firm with effect from Monday. He replaced Thangappan Karunakaran, who has resigned.
A. Palpandi will be considered a full-time employee, governed as per the policy of the company, according to an exchange filing.
As per a regulatory filing dated April 15, Thangappan Karunakaran stepped down from the post of chief operating officer on April 11 and joined as the managing director and chief executive officer of the firm.
A. Palpandi has been associated with Repco Home Finance since May 15, 2002, handling multiple portfolios including credit, operations, human resources, recovery, administration, sales, legal and branch & regional office management. He has an experience of over 28 years in the banking and housing finance industry.
He spent more than five years with IND Bank Housing Ltd. before joining Repco Home Finance.
Shares of Repco Home Finance closed 3.11% higher at Rs 410.70 apiece on the National Stock Exchange, compared to a 1.15% rise in the benchmark Nifty 50. The stock has fallen over 20% in the last 12 months and risen by 0.72% on a year-to-date basis.
Six out of 10 analysts tracking the company recommend a 'buy' rating on the stock and four suggest a 'hold', according to Bloomberg data. The average of the 12-month analysts' price target implies a potential upside of 10.3%.
