Shares of AGS Transact Technologies Limited declined over 5% to ₹7.44 in early trade on Tuesday, following the resignation of three key top-level executives. The stock also hit a fresh 52-week low of ₹7.44, down from the previous close of ₹7.84, dragging its market capitalization to Rs 953.07 crore.
According to the company’s regulatory filing dated April 1, Executive Directors Stanley Johnson Panacherry and Vinayak Goyal, along with CFO Saurabh Lal, have stepped down. Panacherry’s resignation is effective April 30, while Goyal and Lal exited with effect from April 1, citing personal reasons and academic pursuits.
These high-profile exits come at a critical juncture for the company, which is navigating through shifts in the fintech landscape. The board has acknowledged the resignations but has yet to announce successors.
The stock has seen subdued investor sentiment, with its year range now spanning from ₹7.44 to ₹118.40, reflecting significant erosion in shareholder value.
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