Asgard Alcobev Ltd Surges Over 3%; Names Ronak Jain MD, Adds CFO and Non-Executive Director

On Friday, shares of Asgard Alcobev Ltd jumped 3.08 per cent to Rs 57.25 per share from its previous closing of Rs 55.54 per share. The stock’s 52-week high is Rs 90.27 per share and its 52-week low is Rs 32.11 per share. The stock surged 4.70 per cent from its previous close to hit its Intraday high of Rs 57.25.

As of 09:44 IST, the stock was trading at Rs 57.25. Asgard Alcobev Ltd (formerly Banganga Paper Industries Ltd) has announced the appointment of Ronak Jain as Managing Director, effective March 19, 2026. He brings over 15 years of experience in the liquor and beer industry, spanning manufacturing, packaging, distribution, corporate strategy, business expansion, operational efficiency, and financial management. He is expected to drive the company’s strategic realignment and long-term growth.

Simultaneously, the company strengthened its leadership team with two additional appointments. Priyanka Jain has been appointed as Additional Director (Non-Executive), while Binit Singhania has taken charge as Chief Financial Officer (CFO) and Finance Director.

Ronak Jain, a seasoned professional in the alcoholic beverages sector, has led initiatives across production, packaging, and distribution. His expertise in corporate strategy and operational performance is expected to support the company’s turnaround and expansion plans.

Priyanka Jain brings more than a decade of experience in human resources and organisational development, focusing on talent management, culture initiatives, and aligning HR strategy with business goals to build high-performing teams.

Binit Singhania, with over 15 years of experience in accounting, Taxation, compliance, and strategic financial planning, will focus on implementing financial controls and supporting scalable growth initiatives.

The Board of Directors stated that the combined expertise of the new leadership team across strategy, operations, human capital, and finance will be instrumental in driving transformation and delivering sustainable value.

Commenting on his appointment, Ronak Jain said the company will focus on executing a forward-looking strategy leveraging strengths in operations, people, and finance to revitalise the business and create long-term value for stakeholders.

These appointments come as part of the company’s ongoing strategic shift from its legacy paper manufacturing business to the alcoholic beverages sector. The company recently acquired a majority stake in CMJ Breweries in Northeast India and aims to capitalise on emerging opportunities for sustainable growth.

Asgard Alcobev is positioning itself as an emerging player in India’s alcoholic beverages industry, focusing on innovation, operational efficiency, and long-term stakeholder value creation.

The company has a market cap of over Rs 615.47 crore. The stock price has surged over 512 per cent in last 5 years. The stock has delivered around 78.30 per cent returns from its 52-week low of Rs 32.11 per share.

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