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Stock Report
Manali Petro aligns its Leadership Team for Future Growth
Posted On : 2023-07-07 18:11:16( TIMEZONE : IST )
Manali Petrochemicals Limited, (MPL), a leading Petrochemical manufacturing company and part of AM International, Singapore, has announced two strategic leadership alignments.
Ms. Devaki Ashwin Muthiah, the first of the fourth generation of the founder's family, was recently inducted by the Board as a Non-Executive Director. Mr. R Chandrasekar, Whole-Time Director & CFO will also be in-charge of the Company's day-to-day operations.
The appointment of Ms. Devaki Ashwin Muthiah as a Non-Executive Director will enhance the diversity of the Board.
Mr. Muthukrishnan Ravi will be retiring from the position of Managing Director upon his conclusion of current tenure on superannuation of service from the close of business hours on 28th July 2023. He will be continuing his association as the CEO of the company's overseas subsidiaries viz., AMCHEM, Singapore and Notedome, UK leveraging his wealth of experience and industry knowledge. The Board appreciated the services of Mr. M Ravi for his valuable contribution during his tenure.
Commenting on the leadership inductions, Mr. Ashwin Muthiah, Chairman - MPL and Founder Chairman, AM International, Singapore, said, "The leadership team alignment is part of our future strategy at the Company. I am delighted to welcome Ms. Devaki as a Non-Executive Director, who will bring fresh insights and strategic guidance to the Board. I have full confidence in Mr. R Chandrasekar and his team to lead the Company into the future. I also thank Mr. M Ravi for his contribution and look forward to the Company's continued growth."
Shares of Manali Petrochemicals Limited was last trading in BSE at Rs. 67.61 as compared to the previous close of Rs. 67.94. The total number of shares traded during the day was 56389 in over 919 trades.
The stock hit an intraday high of Rs. 68.35 and intraday low of 67.05. The net turnover during the day was Rs. 3815206.00.
