The stock of the well known IT training provider, NIIT Limited, plunged by 11% on April 10, 2017 as its chief executive officer, Rahul Keshav Patwardhan put down his papers. The announcement made about the resignation on April 8, 2017 knocked down the company's stocks. NIIT's stocks plunged to Rs 74.25 on April 10, 2017 on the bourses - NSE and BSE, from a closing price of Rs 83 on Friday, April 8, 2017.
While, a massive number of 6.15 lakh shares of the company changed hands on the counter as compared to the two week trading average of 2.78 lakh shares. Along with this development, the company announced the appointment of Sapnesh Lalla as the CEO from April 7, 2017.
The stock is trading at Rs 77.20, down by 6.82% on April 10, 2017 at 12:27 hrs. While the stock dipped as low as Rs 73.80 intraday.