Sharma has driven the strategy of the combined business since its formation and has also spearheaded the largest-ever equity raise in India.
"That (the CEO's resignation) will put pressure. They are not able to increaae their share price. At least the drop has been minimal. But the growth that Reliance Jio is showing, it is going to be negative for other telecom players. And with Vodafone, there are high number of complaints about call quality and call dropping. So, with these kinds of problems and their huge debt, the turnaround is difficult." AK Prabhakar, head of research, IDBI Capital said.
At 9:51 AM, the stock was trading 5.01 per cent lower at Rs 5.69 as compared to a 0.02 per cent gain in the benchmark S&P BSE Sensex.