PNB Gilts slides as CEO Vikas Goel Resigns

Goel mentioned personal reasons for his resignation and will be relieved of his duties at the close of business hours on 23 December 2024. The company's board of directors has accepted his resignation with immediate effect.

The official announcement was made after market hours on 16 December 2024.

PNB Gilts primary activities entail supporting government borrowing programs via the underwriting of government securities issuances and trade in a gamut of fixed-income instruments such as government securities, treasury bills, state development loans, corporate bonds, interest rate swaps, and various money market instruments such as certificates of deposits, commercial papers etc.

PNB Gilts tumbled 16.45% to Rs 82.12 after the company reported a net loss of Rs 41.12 crore in Q2 FY24 as against net loss of Rs 7.85 crore reported in Q2 FY23. Revenue from operations increased 2.16% YoY to Rs 346.81 crore in Q2 FY24.