Bandhan Bank Share: Bandhan Bank’s share closed at Rs 173.85 on NSE on Wednesday, down 1.19 percent. The bank’s share is trading near its 52-week low of Rs 172.75. This decline has been continuing since the announcement of the retirement of Bandhan Bank MD and CEO Chandra Shekhar Ghosh. He had announced on April 5 that he would leave his post on July 9 this year. This announcement was very heavy on the bank’s shares. The bank’s shares closed at Rs. 197.40 on April 5. In about 2 weeks, the bank’s share has fallen by 12.15 percent. Its 52-week high on NSE is Rs 272. Currently, the bank’s share is trading about Rs 100 below this figure. Experts have expressed hope that the bank will soon take a decision regarding the top management so that this decline can be stopped.
The stock went down by 28.64 percent in the year 2024
Bandhan Bank’s stock has been in trouble since the beginning of this year. According to a Business Today report, the stock has fallen 28.64 per cent in 2024. Bandhan Bank’s stock has gone down by about 15 per cent in a year and more than 46 per cent in 2 years. The bank’s stock reached its 52-week high of Rs 272 on June 1, 2023. Since then, investors have been upset with the stock of this bank. Now, with the announcement of Chandra Shekhar Ghosh’s resignation, the bank’s shares seem to be going into more trouble.
RBI had raised questions on Chandra Shekhar Ghosh
According to a Business Today report, RBI had raised questions on Chandra Shekhar Ghosh’s leadership three years ago. The bank’s board wanted to appoint him for 5 years, but RBI approved only 3 years. Apart from this, RBI had banned Bandhan Bank from expanding branches. Along with this, Chandra Shekhar Ghosh’s salary was also curbed. Due to this, it was believed that the central bank was not happy with his methods. Therefore, Chandra Shekhar Ghosh’s departure was considered certain.
Estimated to be between 160 and 180 rupees
Swastika Investmart’s research head, Santosh Meena, estimates that it can remain between Rs 160 and Rs 180 at present. At present, the possibility of it going above this is very low. Global brokerage Jefferies has also expressed hope of Bandhan Bank’s stock will be around Rs 170. The brokerage firm has also reduced the estimates of the bank’s growth and credit cost for the financial year 2025–26.
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