Kotak Mahindra Bank shares gain over 3% after Anup Kumar Saha named new MD & CEO

The latest market report highlights that Shares of Kotak Mahindra Bank rose over 3% in early session on October 1 after the private sector lender announced the appointment of Anup Kumar Saha as its new Managing Director and CEO.

Shares of Kotak Mahindra Bank rose as much as 3.17% in initial trade before paring upside; the stock was trading 1.93% elevated at Rs 425.05 on the NSE at 9:21 am.

Saha will take charge for a three-year term from January 1, 2027, succeeding Ashok Vaswani. He joined Kotak Mahindra Bank in January 2026 and at present serves as a whole-time director (executive director), overseeing the retail bank, government business, data analytics and marketing functions.

Before joining Kotak Mahindra Bank, Saha held several senior leadership roles at Bajaj Finance.

Vaswani stated he was confident that under Saha's leadership, the bank would deepen customer relationships and move forward with purpose and discipline.