Olectra Greentech share price was in focus on Monday after the company's Managing Director and Chairman KV Pradeep resigned. The stock was trading in the green, up 0.25%, at Rs 1,224 around 3 PM on Monday.
In an exchange filing, the company stated, "We would like to bring your kind notice that Mr. K.V. Pradeep, Chairman & Managing Director of the Company, has tendered his resignation from the position of Chairman & Managing Director as well as Director of the Company on 09.06.2025 due to his personal reasons. The effective date of his resignation shall be informed in due course of time."
Recent reports have highlighted the company's sales guidance appeared to be significantly misaligned with operational realities, leading to multiple order cancellations and substantial revenue losses.
The scrip rose as much as 2.62% to Rs 1,253.90 apiece on Monday. It pared gains to trade 0.64% higher at Rs 1,229.70 apiece, as of 02:52 p.m. This compares to a 0.38% advance in the NSE Nifty 50 Index.
It has fallen 29.70% in the last 12 months. The relative strength index was at 49.
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