Sintex Plastics shares locked in lower price band after CFO resigns

After nine successive sessions of gains, shares of Sintex Plastics Technology were locked in lower price band, having plunged 5 percent, on BSE on September 18.

Shares cracked after the company said in a regulatory filing on September 18 that its chief financial officer (CFO) had resigned two days earlier.

“Yashpal Jain has tendered his resignation as a chief financial officer and key managerial personnel of the company on personal grounds with effect from close of business hours on September 16, 2019,” the company said.

Sintex Plastics shares opened at Rs 5.87 against the previous close of Rs 5.61 and jumped 5 percent to touch an intraday high of Rs 5.89 before getting locked in the 5 percent lower price band at Rs 5.33.

In the last nine successive sessions of gains, the stock had jumped almost 51 percent on BSE.

Source : http://tiny.cc/tryxcz

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