Only 9% up since last MD but Jefferies sees 10% more in Kotak Mahindra Bank shares after Anup Saha's appointment
The Reserve Bank of India approved Anup Kumar Saha as the new Managing Director and CEO of Kotak Mahindra Bank, effective January 1, 2027. Jefferies India maintains a ‘buy’ rating on the bank's shares, predicting a 10% upside despite a 9% return during Ashok Vaswani's tenure. Investors can expect potential growth in retail deposits and earnings ahead.