Bandhan Bank Share Price : Bandhan Bank shares have jumped 9 percent. At 10 am, it is trading at Rs 204.10. This rise in Bandhan Bank stock has come after the Reserve Bank of India approved the proposal to appoint Partha Pratim Sengupta as Managing Director (MD) and Chief Executive Officer (CEO) of Bandhan Bank for three years. Sengupta's three-year term will be counted from the date of assuming charge.

Why Bandhan Bank stock jumped: Why did Bandhan Bank stock rise today?

The Reserve Bank of India has pre-approved the appointment of Sengupta to this post through its letter dated October 8, 2024. The bank said that Sengupta will replace the bank's founder MD and CEO Chandrashekhar Ghosh, who stepped down from the post on July 9. At present, Ratan Kesh, an executive director of the bank, is working as interim MD and CEO. Sengupta has been the MD and CEO of the public sector Indian Overseas Bank. He has long experience in both the retail and corporate banking sectors.

Bandhan Bank Share Price Target

International brokerage firm Jefferies has maintained its Buy rating for Bandhan Bank with a target price of Rs 240 per share. The brokerage has termed the appointment of Partha Sengupta as Managing Director and CEO as a positive development.

Bandhan Bank Share Price History

So far in the calendar year 2024, Bandhan Bank's share price has underperformed the market, declining 17 percent as compared to a 13 percent gain in the BSE Sensex. The stock had hit a 52-week high of Rs 263.15 on January 4, 2024. Bandhan Bank stock has declined 18.57 percent in the last 1 year.

Bandhan Bank Headquarters

Bandhan Bank is headquartered in Kolkata and follows a group-based personal loan model for microfinance businesses. As of June 30, 2024, Bandhan Bank had a network of 6,297 branches, banking units or doorstep service centers (DSC) and GRUH centers spread across 35 states and union territories (UTs).