Thursday, April 18, saw a rise of more than 1% in Bandhan Bank shares, which had fallen during the previous session. At 175.90, Bandhan Bank shares are up 2.05 points, or 1.18 percent, on the trading day. The bank’s shares peaked at 176.40 during the intraday session, and its lowest point was 174.60.
Since bank MD and CEO Chandra Shekhar Ghosh said he would be leaving the position on July 9, 2024, once his current term ended, the stock price of the company has been declining. Shares have been volatile since then due to the uncertainty surrounding the company’s future leader.
Despite CEO Ghosh’s advice to “not worry” following his unexpected decision on April 5, the share price fell.
“However, we need a minimum of three months for the selection of candidates and then it will go to RBI and then whatever is the time taken by RBI for approval,” Ghosh stated. “We selected two executive directors on the basis of that experience in the earlier selections.”
The shares reached their 52-week high at 272.00, and their all-time high was 741.80.
Prior to this, Bandhan Bank was downgraded to “Underperform” by international brokerage company Jefferies, with a price objective of Rs 170. This was due to the bank’s reduction of its growth forecast and credit cost estimates for FY25–26. The bank’s projected earnings per share (EPS) have been further lowered by the brokerage by 10–14%.
