Bandhan Bank’s stock surged by 7.05%, trading at ₹200.94 at 9:29 AM today. While multiple factors may be contributing to this rise, two key developments appear to be driving investor sentiment:
- Positive brokerage calls: Several brokerage firms have issued favorable ratings for Bandhan Bank, possibly fueling the stock’s upward momentum. Jefferies maintained a “Buy” rating with a target price of ₹240, while CLSA and Goldman Sachs provided similarly optimistic outlooks, highlighting leadership changes and improving fundamentals.
- RBI approval and audit completion: The Reserve Bank of India (RBI) granted approval for the appointment of Partha Pratim Sengupta as the new MD & CEO of Bandhan Bank. In addition, the completion of NCGTC’s forensic audit related to the Credit Guarantee Fund for Micro Units (CGFMU) may have alleviated concerns, boosting investor confidence.
Although these may not be the only reasons for the stock’s rise, they likely played a significant role in the positive sentiment around Bandhan Bank.
Disclaimer: We are not SEBI Registered Research Analysts. This article is based on publicly available information and does not reflect our stance on the company stock. The information provided is for informational purposes only and should not be construed as investment advice. Readers are advised to consult with a qualified financial advisor before making any investment decisions. The publication and the author hold no responsibility for any investment losses incurred based on the information provided.
