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CFO Resignation Triggers Rally
Shares of Nitco Limited, a player in the tiles, marble, and mosaic segment, soared as much as 13.65 per cent on Wednesday, January 14, 2026. The rally followed the company's announcement that its Chief Financial Officer, Sitanshu Satapathy, had tendered his resignation to pursue self-employment opportunities. The stock price hit an intraday high of ₹94.9 per share on the National Stock Exchange (NSE).
Sales Growth Fuels Optimism
This upward movement comes despite the broader market showing weakness, with the benchmark NSE Nifty50 trading down by 60 points. Nitco shares have shown resilience, bouncing 21.49 per cent from their 52-week low of ₹78.11 reached on December 9, 2025. Robust buying interest persisted, with approximately 5.1 million equity shares, valued at around ₹48.70 crore, changing hands across exchanges by mid-morning.
Business Update Bolsters Sentiment
Adding to the positive sentiment, Nitco had previously disclosed a significant business update on January 9, 2026. The company reported an approximately 85 per cent growth in sales for December 2025 compared to the previous year on a month-on-month basis. Chairman and Managing Director Vivek Talwar cited strong customer demand, an enhanced product portfolio, and operational efficiencies as key drivers for this performance. The company's market capitalisation stood at ₹2,153.23 crore on the NSE as of January 14.