{"id":100757,"date":"2023-04-13T16:40:00","date_gmt":"2023-04-13T11:10:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=100757"},"modified":"2023-04-13T16:34:56","modified_gmt":"2023-04-13T11:04:56","slug":"bank-stock-jumps-up-to-18-after-rbi-approves-the-reappointment-of-its-md-and-ceo","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bank-stock-jumps-up-to-18-after-rbi-approves-the-reappointment-of-its-md-and-ceo\/","title":{"rendered":"Bank stock jumps up to 18%\u00a0after RBI approves the reappointment of it&#8217;s MD and CEO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2694510837\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of AU Small Finance Bank soared 18.92% higher on Thursday to reach an intraday high of \u20b9 689.90 apiece on the National Stock Exchange (NSE) after the Reserve Bank of India (RBI) greenlit the reappointment of the banking company\u2019s existing MD and CEO for another three years.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2191800486\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/AUBANK\/standalone?standalone=true\" target=\"_blank\" rel=\"noreferrer noopener\">AU Small Finance Bank<\/a><\/strong> informed that the RBI has approved the reappointment of Sanjay Agarwal as Managing Director and CEO for a period of three years with effect from April 19, 2023, to April 18, 2026.\u00a0<\/p><p>The Central Bank also approved the reappointment of Uttam Tibrewal as a whole-time director for a period of three years with effect from April 19, 2023, to April 18, 2026.&nbsp;<\/p><p>At 03:22 PM, the shares quoted at \u20b9 681.70 apiece, up 17.25%.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-844400467\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Domestic brokerage Motilal Oswal said that AU Small Finance Bank\u2019s share price has been under pressure due to the lack of clarity about management continuity, in addition to the uncertain macro environment. It reiterated its buy call on the stock with a target price of \u20b9 740, saying that the RBI\u2019s nod removes a key overhang.&nbsp;<\/p><p>Meanwhile, ICICI Securities expects this extension to ensure top management continuity and improve visibility on the continuation of its growth journey like in the past. It revised the company\u2019s target price to \u20b9 770 and a \u2018buy\u2019 rating, indicating an upside of 12.95%, compared to its current share price.&nbsp;<\/p><p>AU Small Finance Bank is engaged in providing a range of banking and financial services, particularly to low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels.&nbsp;<\/p><p>It is a mid-cap stock with a market capitalization of \u20b9 38,681 crores. The banking company has a return on equity of 16.39%. Its shares were trading at a price-to-earnings ratio (P\/E) of 27.91 which is substantially higher than the industry P\/E of 9.50, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2959798843\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of AU Small Finance Bank soared 18.92% higher on Thursday to reach an intraday high of \u20b9 689.90 apiece on the National Stock Exchange (NSE) after the Reserve Bank of India (RBI) greenlit the reappointment of the banking company\u2019s existing MD and CEO for another three years.&nbsp; AU Small Finance Bank informed that the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8444,8446,8449,8448,8445,5394,5393,5896,8451,948,936,3153,3157,2597,8450],"class_list":["post-100757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-au-small-finance-bank","tag-au-small-finance-bank-latest-news","tag-au-small-finance-bank-new-md-and-ceo","tag-au-small-finance-bank-results","tag-au-small-finance-bank-share-price","tag-bank-stocks-2023","tag-bank-stocks-to-buy","tag-bank-stocks-to-buy-in-2023","tag-mid-cap-bank-stock","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch","tag-who-is-the-new-md-and-ceo-of-au-small-finance-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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