Bandhan Bank shares tank over 9% pc
image for illustrative purpose
New Delhi: Shares of Bandhan Bank on Monday tanked over 9 per cent after the private sector lender said its founder, managing director and CEO Chandra Shekhar Ghosh has decided to demit office after the completion of his tenure.
The stock declined 9 per cent to Rs 179.55 on the BSE. At the NSE, shares of the company tumbled 9.17 per cent to Rs 179.25. Ghosh will retire from the services of the bank as MD and CEO upon completion of his current tenure on July 9, 2024, the bank said in a regulatory filing on Friday. “After leading the bank for almost a decade, including three consecutive tenures (9 years) as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level,” Ghosh said in a letter addressed to the board.
