Sasken Communications can fall another 20% as CEO resigns

MUMBAI: Shares of Sasken Communication Technologies today slumped 19 per cent after Anjan Lahiri, the whole time Director & CEO resigned from the services of the company.

Stock of Sasken Communication tumbled 18.28 per cent to close at Rs 258.40 on the BSE. During the day, it plunged 19.98 per cent to Rs 253.

At the NSE, it slumped 18.99 per cent to close at Rs 256.15.

Led by the sharp fall in the stock, the company's market value dropped Rs 121.43 crore to Rs 550.57 crore.

On the volume front, 4.55 lakh shares of the company changed hands at the BSE, while over 9 lakh shares were traded at the NSE during the day.

Sasken Communication Technologies in a filing to the BSE today said that Anjan Lahiri, whole time Director & CEO has resigned from the services and consequently from the Board of Directors effective September 23, 2014.