On 8th April, with the news of Chandra Shekhar Ghosh, MD & CEO, of Bandhan Bank announcing his retirement by July, the company’s share price was reduced by 9%.
Mr Ghosh is taking retirement as “personal and voluntary”. However, this has resulted in many Brokerages downgrading the company's stock.
Brokerage houses believe that the retirement will impact Bandhan Bank in the short term with increased uncertainty unless there is a secession plan in place.
Many Indian mutual funds have stakes in Bandhan Bank with LIC having the biggest stake at 3.69%. There may be a change in the Mutual Fund holdings.
Analysts believe that the share prices of Bandhan Bank would reach Rs. 160 to Rs. 155 in the short term. On Monday, the stock traded in a range of Rs. 179.25 ri Rs. 189.25.
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