SKS Microfinance shares up 5% after chairman quits

Shares in India's only-listed microlender SKS Microfinance opened up 5 percent, its maximum daily limit, on Thursday after its Chairman Vikram Akula on Wednesday stepped down.

Last Updated: Nov 24, 2011, 11:10 AM IST

Mumbai: Shares in India's only-listed microlender SKS Microfinance opened up 5 percent, its maximum daily limit, on Thursday after its Chairman Vikram Akula on Wednesday stepped down.

The company named board member P.H. Ravi Kumar as interim chairman.

By 0350 GMT, the stock was at 121.25 rupees, up 5.02 percent in a weak Mumbai market.

Bureau Report