Bandhan Bank Shares are declining and came close to 52 week lowest level know why

Bandhan Bank Share: Shares of Bandhan Bank fell 1.19 per cent to close at Rs 173.85 on NSE on Wednesday. The bank's shares are trading around its 52-week low of Rs 172.75. This decline has continued since the announcement of the retirement of Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank. He had announced on April 5 that he would leave his post on July 9 this year. This announcement had a heavy impact on the bank's shares. The bank's shares had closed at Rs 197.40 on April 5. The bank's shares have fallen 12.15 percent in just about 2 weeks. Its 52-week high on NSE is Rs 272. At present the bank's shares are 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 prevented.

Stock went down by 28.64 percent in the year 2024

Bandhan Bank Share is in crisis since the beginning of this year. According to the report of Business Today, this stock has fallen by 28.64 percent in the year 2024. Bandhan Bank's stock has fallen by about 15 percent in one year and more than 46 percent in two years. The bank's shares reached its 52-week high of Rs 272 on June 1, 2023. Since then, investors have been unhappy with the shares of this bank. Now with the announcement of Chandra Shekhar Ghosh's resignation, bank shares seem to be in further trouble.

RBI had raised questions on Chandra Shekhar Ghosh

According to the report of Business Today, RBI had raised questions on the leadership of Chandra Shekhar Ghosh three years ago. The bank's board wanted to appoint him for 5 years but RBI had given approval only for 3 years. Apart from this, RBI had banned branch expansion on Bandhan Bank. Besides, Chandra Shekhar Ghosh's salary was also capped. 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 Rs 160 to 180

Santosh Meena, Research Head, Swastika Investmart estimates that at present it can remain between Rs 160 to 180. At present there is very little chance of it coming up. Global brokerage Jefferies has also expected the shares of Bandhan Bank to be around Rs 170. The brokerage firm has also reduced the bank's growth and credit cost estimates for the financial year 2025-26.

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