Schneider Electric Infrastructure gets a new Managing Director & CEO; stock jumps 2%

Shares of Schneider Electric Infrastructure jumped nearly 2 percent in early trade on September 15, post the appointment of a new Managing Director and CEO.

At 9:45 am the Schneider Electric Infrastructure stock was trading 1.81 percent higher at Rs 348.20 on NSE.

Schneider Electric Infrastructure company said the board of directors have approved the appointment of Udai Singh as Managing Director (MD) & Chief Executive Officer (CEO) for three years with effect from September 15. In addition, Arnab Roy resigned as non-executive director of the company effective from September 14 according to a filing with BSE.

Follow our live blog for all the market action

Schneider Electric Infrastructure Limited (SEIL) was incorporated in the year 2011. SEIL is engaged in the business of manufacturing, designing, building and servicing technologically advanced products and systems for electricity networks.

Brokerage Views

Brokerage firm LKP Research is bullish on Schneider Electric Infrastructure and has recommended ‘buy’ rating on the stock with a target price of Rs 365 in its research report dated August 14, 2023.

Stock Performance

Schneider Electric Infrastructure Limited stock has given a return of 122.70 percent over the last six months. The benchmark Nifty50 index has given a return of 18.45 percent over the same duration.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.