SHOPERSTOP.NSE Shoppers Stop Ltd

Welspun Enterprises Ltd, Bajaj Hindusthan Sugar Ltd, L T Foods Ltd and Macrotech Developers Ltd are among the other losers in the BSEs A group today, 25 August 2023.Shoppers Stop Ltd tumbled 11.02% to Rs 722 at 14:45 IST.The stock was the biggest loser in the BSEs A group.On the BSE, 41389 shares were traded on the counter so far as against the average daily volumes of 5442 shares in the past one month.Welspun Enterprises Ltd crashed 6.77% to Rs 282.3. The stock was the second biggest loser in A group.On the BSE, 94736 shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past one month.Bajaj Hindusthan Sugar Ltd lost 6.35% to Rs 23.45. The stock was the third biggest loser in A group.On the BSE, 73.6 lakh shares were traded on the counter so far as against the average daily volumes of 46.1 lakh shares in the past one month.L T Foods Ltd plummeted 5.59% to Rs 166.4. The stock was the fourth biggest loser in A group.On the BSE, 54636 shares were traded on the counter so far as against the average daily volumes of 1.35 lakh shares in the past one month.Macrotech Developers Ltd pared 3.92% to Rs 654.95. The stock was the fifth biggest loser in A group.On the BSE, 19255 shares were traded on the counter so far as against the average daily volumes of 51397 shares in the past one month.

The board of directors accepted Nairs resignation to enable him to spend more time with his family and explore other options.”“To ensure a seamless transition, he will continue to guide and advice the chief executive director (CEO) over the next 6 months, in his capacity as a company official,” the firm stated in the press release. Meanwhile, the company promoted Kavindra Mishra, the chief commercial officer and CEO of Homestop, as its executive director & CEO for a period of three years, effective from 1 September 2023. Before joining Shoppers Stop as chief commercial officer and CEO of Homestop, Kavindra Mishra was working as the managing director and CEO of House of Anita Dongre, which has brands like AND, Anita Dongre, and Global Desi.Prior to that Mishra served as the managing director at Pepe Jeans India for a period of 6 years and managed the transition of the company from a JV to a 100% subsidiary of Pepe Jeans Global. He is a Post Graduate Diploma holder from the Indian Institute of Management, Bangalore, who started his retail career with ABFRL. He started there with Allen Solly, before heading their Middle East Business. He has total work experience of more than 24 years.Shoppers Stop is the nations leading premier retailer of fashion and beauty brands. The company reported 36.5% decline in consolidated net profit to Rs 14.49 crore in Q1 FY24 from Rs 22.83 crore recorded in Q1 FY23. Revenue from operations grew by 4.8% year on year to Rs 993.61 crore in the quarter ended 30 June 2023.

The company said that Mishra’s term will be for a duration of three years after Nair’s resignation becomes effective on 31st August.