1 week ago
Vishal Mega Mart Shares Hit Upper Circuit After CEO Reappointment
Vishal Mega Mart’s share price rose sharply on the stock market.
It went up by 10% and reached the highest price allowed for the day.
This happened even though the wider market was weak.
Investors reacted after the company said Gunender Kapur would continue as its managing director and CEO.
His new term will last for five years.
He will also be called the company’s founder.
Kapur has more than 42 years of experience in consumer and retail businesses.
The company also approved stock options for eligible employees.
These options allow employees to buy shares at ₹102.60 each.
Vishal Mega Mart shares rose 10% to ₹113.95, hitting the upper circuit on the BSE on Monday, 24 August.
The stock gained after the company announced Gunender Kapur’s reappointment as managing director and chief executive officer.
Kapur will serve for five years from 1 September 2026 through 31 August 2031.
He will be redesignated as Founder, Managing Director and Chief Executive Officer.
The board also approved 4.68 crore employee stock options at an exercise price of ₹102.60 per option.
- Who
- Vishal Mega Mart and Gunender Kapur.
- What
- Vishal Mega Mart shares rose 10% to the upper circuit after Kapur’s reappointment as managing director and CEO was announced.
- Where
- The share-price move occurred on the BSE.
- When
- Monday, 24 August; the reappointment announcement was filed after market hours on Friday, 21 August.
- Why
- The stock gained traction after the company announced Kapur’s reappointment and approved employee stock options.
Key facts
- Share-price move
- Up 10% to ₹113.95
- Trading venue
- BSE
- Managing director and CEO
- Gunender Kapur
- New tenure
- 1 September 2026 to 31 August 2031
- Experience
- More than 42 years in consumer and retail-sector management and investment
- Employee stock options
- 4.68 crore options approved
- Exercise price
- ₹102.60 per option
Sources
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