IndusInd Bank share: Jefferies bullish, CITI cautious as Rajiv Anand named MD & CEO

The appointment of Rajiv Anand as the new Managing Director & CEO of IndusInd Bank has triggered divergent reactions from brokerages, with Jefferies maintaining a ‘Buy’ and CITI reiterating a ‘Sell’ rating. The appointment is effective from August 25, 2025, for a period of three years, as approved by the bank’s board and the Reserve Bank of India.

Jefferies on IndusInd Bank: New leadership brings optimism

Jefferies has maintained a ‘Buy’ rating with a target price of ₹920, stating that Rajiv Anand’s appointment is a key positive. Having served in senior leadership roles at Axis Bank, including as Deputy Managing Director, Anand is expected to bring strategic clarity and operational strength to IndusInd Bank. The brokerage also noted that this move may lead to a reorganization of the top management, and it will be important to watch for potential joiners from Axis or other banks to support the transition.

CITI on IndusInd Bank: Execution risks persist despite credible appointment

CITI, however, remains cautious, maintaining a ‘Sell’ rating with a target price of ₹765. While acknowledging Anand’s strong credentials and over 35 years of experience, the brokerage highlighted several key monitorables, including the bank’s strategic roadmap, execution capabilities, and ability to turn around core profitability. CITI forecasts RoA and RoE at just 0.5% and 4%, respectively, and noted that improvement would require stability in net interest margins (NIMs), scaling up of fee income, cost controls, and lower credit costs.

The firm believes that flawless execution and internal alignment will be critical in the near term for IndusInd Bank to stabilize and improve its financial performance.

Brokerage view summary:

Disclaimer: This article is based on brokerage reports and is for informational purposes only. It does not constitute investment advice. Investors should consult their financial advisors before making investment decisions.