NIIT share price tanks 11% as CEO Rahul Keshav resigns

NIIT share price fell nearly 11 percent intraday Monday after its chief tendered his resignation.

"The chief executive officer Rahul Keshav Patwardhan has tendered his resignation due to compelling family reasons and has requested to be relieved from the close of business hours of July 31, 2017," the IT education services provider.

The board has accepted his resignation at its meeting held on April 7, 2017.

"Further the board of directors has approved the appointment of Sapnesh Lalla as chief executive officer designate of the company from April 7," the company said.

Meanwhile, NIIT subsidiary-led consortium has received order from Realty Council of Ontario for 5 years.

At 15:27 hours IST, the stock was quoting at Rs 78.10, down Rs 4.75, or 5.73 percent amid high volumes on the BSE.