Kotak Mahindra Bank Shares Climb Over 3% on New MD & CEO

Kotak Mahindra Bank rose more than 3% in early trade on October 1 after the private sector lender named Anup Kumar Saha as its next Managing Director and Chief Executive Officer. The stock touched an intraday high of 3.17% before settling around 1.93% higher at Rs 425.05 on the NSE by 9:21 am. Saha will assume charge for a three-year term beginning January 1, 2027. He will succeed the current MD & CEO Ashok Vaswani. Saha joined Kotak Mahindra Bank in January 2026 and currently serves as a whole-time director. In this role, he oversees the retail bank, government business, data analytics, and marketing functions. Prior to joining Kotak, Saha held several senior leadership positions at Bajaj Finance. Ashok Vaswani expressed confidence in the transition, stating that under Saha’s leadership the bank would continue to deepen customer relationships and progress with purpose and discipline.