Most analysts downgraded the stock noting that the appointment raises more questions than answers as Subramaniakumar, a veteran banker, was previously involved in the resolution process or turning around lenders with weak asset quality — Dewan Housing Finance Corp. Ltd. and Indian Overseas Bank.
Of the 22 analysts tracking the company, 13 maintain ‘buy’, three suggest ‘hold’ and six recommend ‘sell’. The return potential of the stock is 37.3%.
