NBFCManappuram Financeon July 3 said its CEO Deepak Reddy has tendered his resignation.
Deepak Reddy has resigned to pursue other personal and professional interests, the gold financier said.
"Deepak Reddy shall be relieved from the services of the Company with effect from the close of business hours on December 31, 2026. He will also be on garden leave during this time. The date of cessation of his employment with the Company ill be December 31, 2026," said Manappuram Finance in a stock exchange filing.
On July 3, Manappuram shares closed 2% higher at Rs 329.45 apiece.
Gold rose on Friday and was set for a weekly gain after four straight weeks of declines, as weak U.S. jobs data dampened expectations for a near-term Federal Reserve rate hike.
Spot gold was up 1.3% at $4,176.29 per ounce by 1006 GMT, after hitting its highest since June 23. Bullion held above its 21-day moving average and is up over 2% for the week so far.
U.S. gold futures for August delivery gained 1.53% to $4,188.80/oz.
Data on Thursday showed that U.S. nonfarm payrolls rose by 57,000 last month, below the 110,000 expected by economists in a Reuters poll.
Gold's rally was driven by a sharp slowdown in U.S. hiring last month and the immediate price reaction appears warranted for the time being as markets pare bets for a Fed rate hike in September, said Han Tan, chief market analyst at Bybit.
Traders now see about a 54% chance of a rate increase in September, down from 66% before the data, according to the CME FedWatch tool.
Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold.
The U.S. dollar was on track for its biggest weekly loss since April following the jobs data, making greenback-priced bullion more affordable for holders of other currencies
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