INSUBCONTINENT EXCLUSIVE:
It raised target price for ICICI Bank to Rs 440 from Rs 410 earlier
elevating COO Sandeep Bakhshi to the CEO's role for five years
Since June, Bakhshi was acting as the de-facto CEO after Kochhar was sent on leave, pending an independent probe into allegations of
The global brokerage also expects the stock to rerate
Mahesh Singhi, founder and MD, Singhi Advisors, said, "At a time when the market sentiment is at an all-time low and banks are facing the
brunt of NPAs on their balancesheets, the exit of Chanda Kochhar will be key to reinstating the credibility of ICICI Bank
The move will restore investor confidence in the bank
She has taken a most dignified and graceful exit which will ensure the investigation will proceed in a smooth and transparent manner."
