Vishal Mega Mart Limited has announced a change in its senior management team with the resignation of Mr. S Raamesh from his position as Vice President - Supply Chain. The company disclosed this development to stock exchanges on January 09, 2026, in compliance with regulatory requirements.

Resignation Details

Mr. S Raamesh, who was designated as Senior Management Personnel, tendered his resignation from the company's services effective from the close of business hours on January 09, 2026. The resignation was originally submitted on September 16, 2025, citing personal reasons for his departure.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both the National Stock Exchange of India Limited and BSE Limited, providing comprehensive details about the management change.

Transition Process

In his resignation letter addressed to Managing Director & Chief Executive Officer Gunender Kapur, Mr. Raamesh expressed his availability to serve the full notice period to ensure a smooth transition. He acknowledged the opportunities and support received during his tenure and extended his best wishes for the organization's continued success.

The resignation represents a planned departure with adequate notice period, allowing the company time to manage the transition in its supply chain operations leadership. Company Secretary & Compliance Officer Rahul Luthra signed the regulatory disclosure on behalf of Vishal Mega Mart Limited.

Vishal Mega Mart has received continued analyst support from JPMorgan, with the global investment bank maintaining its positive outlook on the retail chain's stock performance.

Analyst Rating and Price Target

JPMorgan has reaffirmed its 'Overweight' rating on Vishal Mega Mart, signaling the firm's confidence in the stock's potential to outperform the broader market. The investment bank has established a price target of ₹158.00 for the shares.

Investment Outlook

The 'Overweight' rating typically indicates that analysts expect the stock to perform better than the average return of the stocks in the analyst's coverage universe over the next 12-18 months. This positive assessment reflects JPMorgan's view of Vishal Mega Mart's position in the competitive retail landscape.

The maintained rating suggests that JPMorgan continues to view the company favorably despite prevailing market conditions and competitive pressures in the retail sector.