IndusInd Bank shares up 5% today: Here we decode why
What's the story
Shares of IndusInd Bank jumped nearly 5% today, following the announcement of Rajiv Anand as the new MD and CEO. The Mumbai-based private lender made the announcement late night on yesterday. In an exchange filing, the bank said its board has approved Anand's designation as an 'Additional Director' in the MD and CEO category for three years.
Tenure
Anand's tenure to begin on August 25
Anand's tenure will begin on August 25, 2025, and end on August 24, 2028, subject to the approval of shareholders at the bank's forthcoming general meeting. The bank said Anand brings a wealth of experience from his previous stint as Deputy Managing Director at Axis Bank where he led the bank's Wholesale Banking Business. His appointment comes at a critical time for IndusInd Bank which has been without a full-time CEO since Sumant Kathpalia resigned in April-end.
Leadership transition
Bank led by senior management committee
During the interim period, IndusInd Bank was led by a senior management committee comprising Soumitra Sen (Head of Consumer Banking) and Anil Rao (Chief Administrative Officer). The appointment of a permanent CEO is tipped to bring much-needed stability to the lender's leadership team. Anand, 59, is a CA with over 35 years of experience in retail banking, wholesale banking, and asset management.
Market response
A look at the stock prices
IndusInd Bank's financial performance has been rocky in recent quarters, with a net loss in Q1 FY25 due to accounting issues. Following Anand's appointment announcement, IndusInd's stock jumped 5.6% to hit a high of ₹848.80 on the BSE. However, it is still down 43% over the past one year and has declined 11.6% in 2025 year-to-date.