The Indian indices appear to be back on the path of decline after a positive start on Friday, November 1, on account of Muharat Trading. The markets have started the trading week with deep cuts, and Kolkata-based Bandhan Bank appears to have been taken up in the storm.
The shares of the bank dropped significantly in the early hours of the day's trade on Monday, November 1.
Bandhan Bank Q2 Earnings
The bank published its quarterly results for Q2 of FY on October 25, following which there was a spike on the company's prospects at Dalal Street.
A quick recap of the results shows us that the bank made a total income of Rs 6,094 crore in Q2 of FY25, which was greater than the total income attained when Bandhan Bank accrued Rs 5,032 crore in September of 2023.
In addition, the bank also saw an uptick in the total interest earned in the three-month period. In the July-September quarter, the bank gathered Rs 5,499 crore in total interest earned, compared to Rs 4,491 crore in the corresponding quarter of the previous fiscal year.
Bank Gets A New MD/CEO
In a much more recent development surrounding the company, Partha Pratim Sengupta took charge as the bank's new managing director and the chief executive officer on Friday.
In addition, Ratan Kumar Kesh, who was appointed interim MD & CEO of the Kolkata-based entity after the retirement of its founder, Chandra Sekhar Ghosh, will resume his role as executive director and chief operating officer.
Previously, Sengupta also headed a PSB in the form of the Indian Overseas Bank.
Bank Shares Slip on Monday
Looking at the aforementioned shares of the company, Bandhan Bank saw a decline of over 2 per cent before 10:00 IST. As the markets progressed further, the shares and their decline only grew deeper.
At 10:06 IST, the share price of Bandhan Bank dipped by 2.58 per cent or Rs 4.74. This took the overall value of the company shares to Rs 178.91 per piece.
