Alkem shares fall nearly 5% after Vikas Gupta announces resignation
Business
Alkem Laboratories's stock slid nearly 5% on Friday after CEO Vikas Gupta announced he's stepping down.
Shares dropped to ₹5,261 during afternoon trading, but the company's overall performance has held steady this past year, even as the Nifty 50 index slipped by 1.5%.
Alkem remains a major player in pharma, with a market cap over ₹63,000 crore.
Gupta to stay until June 2026
Gupta isn't leaving right away. He'll stay on as CEO until June 2026 to help with a smooth transition.
In his resignation note, he thanked the team and highlighted how far Alkem has come in market position and research and development.
He also promised to support management through the changeover before exploring new opportunities himself.