The leadership transition is expected to restore stability after months without a full-time CEO. But analysts advise caution till the stock clears ₹863–₹893 resistance.
Shares of IndusInd Bank surged on Tuesday following the private lender’s appointment of Rajiv Anand as the new MD & CEO of the company.
IndusInd Bank’s board has approved the designation of Rajiv Anand as an additional director in the MD & CEO category for a period of three years commencing August 25. The appointment, disclosed in an exchange filing late Monday, has also received the Reserve Bank of India’s nod, a key requirement for top-level banking roles.
Anand brings over three decades of experience, including his recent tenure as Deputy Managing Director at Axis Bank, where he led the wholesale banking business.
His arrival comes at a pivotal moment for IndusInd Bank, which has operated without a full-time CEO since Sumant Kathpalia stepped down in April, following a derivatives accounting controversy.
SEBI-registered analyst Akhilesh Jat said the appointment sparked investor optimism and lifted the stock as much as 5.5% in early trade, building on a 2.5% gain the previous day.
He also warned that the stock underwent a steep correction of nearly 4% from the top and is still trading more than 45% away from its 52-week high.
Technical Outlook
Jat noted that the stock closed above its 100-day simple moving average (SMA) on Monday but could not hold above the 50-day SMA on Tuesday. Unless it decisively clears the ₹863–₹893 resistance zone, fresh entries should be avoided, he said.
Providing a broader perspective, SEBI-registered analyst Manish Kushwaha said the weekly chart shows a long-standing downtrend since August 2023, but the stock has recently been forming higher lows since bottoming out in February–March 2025.
He noted an ascending trendline supported by rising volume near the breakout zone and a neutral relative strength index (RSI) reading of 44.82, which may indicate room for upward movement. Kushwaha added that if support at ₹750 holds, the stock could test ₹900–₹920 in the near term.
On Stocktwits, retail sentiment for IndusInd Bank was ‘bearish’ amid ‘normal’ message volume.
The stock has declined 15.7% so far in 2025.
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