Nandita Sinha is expected to step down as CEO of Myntra in the coming weeks, marking a significant leadership change for the e-commerce platform. Sinha, who has been with the Flipkart group since 2013, took on the role of CEO at Myntra in 2022.

Under her leadership, Myntra reported a revenue of ₹6,043 crore for FY25, reflecting an 18% rise compared to the previous year. The company also achieved a net profit of ₹548 crore during the same period, indicating a strong financial performance.

Sharon Pais is currently the frontrunner to succeed Sinha as CEO of Myntra. This transition comes at a time when Flipkart is preparing for a potential public listing within the next 12 to 15 months, with ambitions of achieving a valuation of $70 billion.

Earlier this year, Myntra also saw the departure of Abhishek Gupta, its former CFO, who left the company. Kannan Ganesan was subsequently appointed as the new CFO, further indicating a period of change within the organization.

Sinha’s tenure has been marked by efforts to enhance Myntra’s market position and expand its offerings in the competitive fashion e-commerce space. Her leadership has been pivotal in navigating the challenges posed by a rapidly evolving retail landscape.

Details remain unconfirmed regarding the exact date of Sinha’s departure and whether she will exit the Flipkart Group altogether. Observers are keenly watching how this leadership shift will impact Myntra’s strategic direction moving forward.

The post Nandita Sinha Myntra: CEO Expected to Step Down Soon appeared first on newsrush.

On March 9, 2026, Meesho’s share price fell about 10%, marking a significant decline in the company’s market performance. This drop came in the wake of a substantial tax demand issued by the Income Tax Department, amounting to ₹1,499.73 crore for the assessment year 2023–24.

The tax demand was issued under Section 143(3) and Section 156 of the Income Tax Act, which has raised concerns among investors regarding the company’s financial health. Following the announcement, Meesho’s stock opened at ₹147.60, reached an intraday high of ₹150.95, and an intraday low of ₹143.20, reflecting the market’s reaction to the news.

Meesho has indicated its intention to contest the tax demand legally, asserting that it disagrees with the observations and adjustments made in the assessment order. A spokesperson for the company stated, “The company does not agree with the observations and adjustments made in the assessment order and believes it has adequate legal and factual grounds to contest the matter.” This legal battle could have significant implications for the company’s future and its share price.

This is not the first time Meesho has faced tax scrutiny; the company previously received a tax notice related to the fiscal year 2022, which resulted in a tax claim of ₹572 crore. Such disputes are not uncommon in the e-commerce sector, where large marketplaces often encounter issues related to the accounting of operational costs.

Meesho, which made its stock market debut on December 10, 2025, had an initial public offering (IPO) price band of ₹105 – ₹111 per share. The listing price was around ₹162.5, resulting in a listing gain of about 46%. However, the recent tax demand has raised questions about the sustainability of such gains and the company’s overall valuation.

The tax demand includes interest, which could further complicate the financial situation for Meesho. Investors are closely monitoring the situation, as the outcome of the legal contest could significantly impact the company’s share price and investor sentiment.

As Meesho prepares to challenge the tax demand, uncertainties loom over the company’s future performance in the stock market. Details remain unconfirmed regarding the potential outcomes of the legal proceedings and their effects on the company’s financial standing.

The post Meesho Share Price Takes a Hit Amid Tax Demand appeared first on newsrush.