India's Kotak Mahindra Bank jumps on Anup Saha's CEO appointment
BUZZ-India's Kotak Mahindra Bank jumps on Anup Saha's CEO appointment ** Shares of Kotak Mahindra Bank KTKM.NS rise 3.3% to 431 rupees, making the stock top gainer on benchmark Nifty 50 index .NSEI
** Lender appoints Anup Kumar Saha as its next CEO for a three year term, succeeding Ashok Vaswani, whose term ends next year
** India's banking rules require banks to recommend at least two potential candidates for CEO positions, with the regulator approving one of the two options
** Reuters reported last month that co submitted Anup Saha and Paritosh Kashyap to the RBI for approval
** Saha joined KTKM in Jan after leading non-bank lender Bajaj Finance BJFN.NS and currently oversees the retail banking business at Kotak
** Analysts have a "buy" rating on avg; median PT is 470 rupees -- data compiled by LSEG
** YTD, KTKM down 3%
(Reporting by Urvi Dugar in Bengaluru)
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