India, Sept. 9 -- Coforge Ltd kicked off Wednesday's trade on a weak note with shares tumbling as much as 8.67 per cent intraday to a low of Rs. 1,780.10 on the BSE, before paring some of the losses to trade lower by about 6-7 per cent. Shares of the company fell after the company told exchanges that Chairman O P Bhatt had resigned from the board with immediate effect, making the IT major the biggest loser of the morning session.

For context, the stock isn't in bad shape for a longer timeframe, it's still up a sharp 56.67% over the past six months. But that trend counted for little on a day when governance concerns took centre stage.

Why Did the Chairman Resign? This wasn't your typical "personal reasons" or "other commitments" exit l...