down 15 per cent on the BSE in intra-day trade on Monday, after the company announced that
Rajendra Rao Juvadi stepped down as managing director and CEO. has resigned.
The company's former CEO and Managing Director (MD) Jitesh Devendra will return to Solara as MD to drive
In the last two trading days, the stock has lost 21 per cent, and has lost 71 per cent from its 52-week high of Rs 1,859.30 on May 19,
2021. In comparison, the S&P BSE Sensex was down 0.80 per cent. Percentage at 56,602 at 11:01 am.
Separately, the company's board has also decided not to go ahead with
the proposed merger with Auror, to focus on the company's core competency and organic growth.
When the transaction was announced, Solara and Auror delivered their highest EBITDA performance to date,
and the momentum was expected to continue. Auror has not achieved its financial targets set for FY 2012
more about Solara Active Pharma slips 15%