Murugappa Group Stock Jumps 9%, Hits Fresh 52-Week High After CFO Appointment

Shanthi Gears Ltd share price jumped nearly 9 per cent and hit a fresh 52-week high on Friday, September 4, following the appointment of a new Chief Financial Officer.

The stock opened with a sharp gap-up at Rs 600.00 against its previous close of Rs 582.80. Buying interest strengthened during the session, pushing the stock to an Intraday high of Rs 637.45. This marked a gain of 9.38 per cent from its previous close.

However, the buying momentum eased in the afternoon session. At 3:10 PM, Shanthi Gears Ltd was trading at Rs 614.50, up 5.44 per cent from its previous close.

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New CFO Appointment

The rally came a day after Shanthi Gears Ltd announced a key management change.

At its Board meeting held on September 3, 2026, the company appointed Mr Sai Krishna Alluri as Chief Financial Officer with immediate effect.

Following the appointment, Mr Sukanta Kumar Panigrahi ceased to be the Interim CFO of the company.

Stock Rises Over 50% in One Month

Shanthi Gears Ltd shares have delivered a strong rally over the past month.

On August 4, the stock closed at Rs 409.50. Against this level, the intraday high of Rs 637.45 recorded on Friday represents a gain of 55.67 per cent in one month.

The sharp rise has taken the stock to a fresh 52-week high, reflecting sustained buying interest in the counter.

About Shanthi Gears Ltd

Shanthi Gears Ltd is engaged in the design, manufacture, supply and servicing of gears and gearboxes.

The company's product portfolio includes customised gearboxes, loose gears, worm gearboxes and helical gearboxes. Tube Investments of India Ltd, the flagship company of the Murugappa Group, holds a 70.46 per cent stake in the company. 

Disclaimer: The article is for informational purposes only and not investment advice.