INDUSINDBK

The shares of IndusInd Bank sharply surged nearly 4 percent on June 27 after CNBC-TV18 reported that Axis Bank's Rajiv Anand is a strong candidate for its CEO position. HDFC Bank's Rahul Shukla and Bajaj Finance's Anup Saha are also likely to be running for the role, the report added, citing sources. IndusInd Bank shares hit a day's high of Rs 876 apiece. Axis Bank Deputy CEO Rajiv Anand is likely a strong candidate for the bank's CEO position, CNBC-TV18 reported. If appointed, Anand will replace IndusInd Bank's former CEO Sumant Kathpalia, who resigned in late April, taking moral responsibility for the discrepancies found in the bank’s derivatives portfolio. HDFC Bank's Group Head of Commercial and Rural Banking Rahul Shukla is also likely to be running for the role, the report added citing people familiar with the matter. According to the bank's website, Shukla is currently on a sabbatical leave. Anup Saha, Managing Director of Bajaj Finance, is also reported to be in the race. IndusInd Bank's board is set to send the names of these three candidates to RBI for approval, the report added.