📉 IndusInd Bank Under Pressure After Top Management Exit
🔻 Stock Reaction:
- Shares fell over 3% on Wednesday
- Triggered by the resignation of MD & CEO Sumant Kathpalia amid accounting discrepancies in the derivatives portfolio
- Came just a day after Deputy CEO Arun Khurana also resigned
📋 RBI’s Response:
- Approved a committee of executives to oversee operations:
- 👤 Soumitra Sen (Head of Consumer Banking)
- 👤 Anil Rao (Chief Administrative Officer)
- To function under the guidance of an oversight committee of the board
📊 Analyst View:
- ⚠️ Cautious sentiment prevails
- ❌ No major sell-off expected
- ❌ No significant upside either in near term due to leadership vacuum
- 📆 New MD & CEO appointment may take 1–2 quarters, keeping stock volatile
