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SKS Microfinance shares fall

October 8, 2010

Shares in SKS Microfinance fell 5.6 percent in trade today to close at 1228.25 rupees.

The microlender fired its chief executive Suresh Gurumani 18 months into the job and replaced him with his deputy on Monday. The shares had closed down nearly 6 percent on Monday.

Capital market regulator SEBI has asked SKS Microfinance to spell out the reasons behind its decision to sack CEO Suresh Gurumani, the Economic Times reported on Friday.

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