India's Kotak Mahindra Bank set to snap 3-week losing streak after naming new CEO

Kotak Mahindra Bank

01/10/2026 10:16

Updates with latest pricing
** Shares of Kotak Mahindra Bank KTKM.NS rise 3.6% for the week, on track to snap a three-week losing streak

        ** Stock gains as much as 4.4% on Thursday after lender appoints Anup Kumar Saha as its next CEO for a three-year term; last up 0.3% at 418.40 rupees 
** Saha to succeed 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 5%

 (Reporting by Urvi Dugar and Puyaan Singh in Bengaluru)
 ((UrviManoj.Dugar@thomsonreuters.com;))