Prakash Industries Ltd. Share Price

63 MOONS TECHNOLOGIES — PROMOTER SELLING ALERT

Technologies (63MOONS) has witnessed another promoter-group market sale with PRAKASH B SHAH selling 2 000 shares at ₹825.98 amounting to approximately ₹16.52 lakh on 30 September 2026. The reported transaction reduced the promoter-group holding by around 0.01 percentage point from 0.04% to 0.03% for the concerned holder. This is particularly noteworthy because the same promoter had also reported sales earlier in September including 14 337 shares and 5 000 shares indicating repeated selling activity during the month. What does it indicate? Repeated promoter selling can act as a supply-side signal especially when multiple sales occur within a short period. However investors should not interpret a single promoter transaction as an automatic bearish signal—the reason for the sale and the overall promoter holding are important. As of June 2026 the overall promoter holding in 63 Moons was reported at 45.63% so the transaction highlighted above represents only a small change relative to the company's total promoter ownership.

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Coforge's Boardroom Shock: A Governance Wobble

, one of the better-performing mid-cap IT names this year, took a sharp hit after Chairman Om Prakash Bhatt abruptly resigned following an internal audit that flagged concerns over how a board evaluation report was handled. The stock fell nearly 9% in a single session, its steepest drop in over a year, hitting a three-week low around ₹1,780. This wasn't a case of weak earnings or lost clients, it was pure governance panic, and that makes it worth unpacking. The trigger was disclosure, not performance. The audit found that material information relating to Bhatt's own performance review wasn't fully shared with the board, a red flag for corporate governance, not a business problem. The market's reaction looks overdone. Coforge shares had actually gained over 12% this year even as the broader Nifty IT index fell more than 23%, so this was one of the sector's few bright spots getting punished hard for a leadership issue rather than fundamentals. Timing made it worse. This came right when Nifty IT as a whole was already sliding roughly 3% that day on unrelated macro pressure, rate worries, crude prices, and Middle East tensions, so Coforge's stock-specific news landed on top of an already jittery sector. Management transition adds near-term uncertainty. With Vivek Sharma stepping in as interim chairman, investors will likely stay cautious until there's clarity on leadership and whether more governance issues surface. A useful reminder for the broader IT pack, in a sector already nervous about AI disruption and US spending freezes, any additional shock, even a boardroom one, gets amplified far more than it might in calmer markets.

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Coforge: Chairman Resigns After Internal Audit

is in focus after Om Prakash Bhatt resigned as the company's Non-Executive Independent Director and Chairman of the Board with immediate effect on September 8. The resignation followed an internal audit review of the company's Board Evaluation Exercise and Board Evaluation Report (BER). According to the company, the review identified concerns relating to the manner in which the report had been dealt with and presented to the board, including certain material information concerning the report and the Chairman's performance that had not been fully disclosed when the report was presented. The board had sought an explanation from Bhatt and was still reviewing his response when he resigned. Coforge said there were no other material reasons for his departure beyond the matters arising from the internal audit and subsequent board review. Following his resignation, Vivek Sharma, a Non-Executive Independent Director, has been appointed interim Chairperson until January 31, 2027. Coforge shares fell sharply in early trading, declining by more than 8% as investors reacted to the governance and leadership development.

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IT Shares Fall for 6th Session; Coforge, Infosys, TCS Slide

stocks remained under pressure for the sixth straight session, with Coforge, Infosys and TCS among the major laggards. The sell-off was driven by broader market weakness, rising crude oil prices and renewed concerns over US interest rates, while Coforge faced additional pressure after its chairman resigned following concerns raised by an internal audit. The Nifty IT index fell around 3%, with Coforge declining as much as 6% in early trade. Coforge Chairman Om Prakash Bhatt resigned with immediate effect after an internal audit raised concerns regarding the company's board evaluation process. The development added to investor concerns around corporate governance and leadership stability. Broader macro concerns also weighed on the sector. Brent crude moved towards $100 per barrel amid escalating Middle East tensions, raising concerns over inflation and the possibility of tighter US monetary policy. Since Indian IT companies generate a significant portion of their revenue from overseas markets, renewed US rate-hike expectations have added to the cautious sentiment around technology stocks.

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Coforge chairman resigns after audit finds concerns

Coforge chairman resigns after audit finds concerns in board evaluation

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 IT services firm Coforge said Wednesday Chairman Om Prakash Bhatt resigned after an internal ​audit into a board evaluation found concerns, ​including that material information about his own performance ‌had not been fully disclosed to the board. Bhatt, who previously served as chairman of India's largest lender, State Bank of India, was appointed chair of Coforge's board in 2024 with a term due to finish in April 2027. An audit into the board evaluation process and the resulting report, which were handled under Bhatt's guidance, identified concerns about how the report "had ‌been dealt with and presented to the board", the company said. The board raised its concerns with Bhatt and was evaluating his response when Bhatt tendered his resignation on Sept. 8. The company did not elaborate on the specific nature of the information about Bhatt's performance ​that had not been disclosed to the board. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24

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