Dhanlaxmi Bank Shares: Dhanlaxmi Bank Share Price NSE India
Dhanlaxmi Banks shares hit a peak not seen in nine years, climbing by 10% to reach Rs 51.21 on Thursday. Over the past two weeks, the bank’s shares surged by an impressive 69%.
Even when the market isn’t doing so great, Dhanlaxmi Bank’s shares are really standing out. They went up by 10% last Thursday, reaching Rs 751.20, the highest they’ve been in over nine years. This is the highest point for shares of a private bank since August 2014. Just the day before, they closed at Rs 46.56, and their lowest point in the past year was Rs 13.50.
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Dhanlaxmi Bank have more than 69% increase in 2 weeks
Over the past two weeks, Dhanlaxmi Bank’s shares have seen a significant surge. In just that short time, shares of this private bank have shot up by over 69%. Starting at Rs 30.29 on January 11, 2024, they reached Rs 51.21 by Thursday, January 25. The momentum continued with a 29.6% increase over the last five days. Looking at the broader picture, since the beginning of the year, Dhanlaxmi Bank’s shares have risen by 65.5%, and in the last month alone, they’ve surged by more than 74%, going from Rs 29.41 to Rs 51.21. And zooming out to the past year, there’s been an impressive 197% jump in the bank’s shares.
Dhanlaxmi Bank shares surge by 197% over the course of a year
Back on January 27, 2023, the shares of this private sector bank were priced at Rs 17.20. Fast forward to January 25, 2024, they’ve surged to Rs 51.21. During the same six-month period, from Rs 20.90, they climbed to Rs 51.21, marking a remarkable 145% increase. Dhanlaxmi Bank is headquartered in Thrissur, Kerala, and boasts 257 branches.
RBI extends tenure of Dhanlaxmi Bank CEO Shivan JK
Dhanlaxmi Bank has received the nod from the Reserve Bank of India (RBI) to extend Shri J K Shivan’s tenure as Managing Director & CEO. The bank confirmed this in a notification to the exchanges. Shivan will continue in his role until his successor takes charge, following the RBI’s approval.
The bank’s Board of Directors has already greenlit a list of candidates for the MD&CEO role. Complying with RBI norms, the bank has submitted these candidates’ names to the RBI for its approval. Before joining Dhanlaxmi Bank, Shivan amassed over 35 years of banking experience, serving in various capacities at the State Bank of India (SBI). His roles spanned commercial banking, including corporate and international banking, forex operations, retail advances, and agriculture credit. Shivan retired as Chief General Manager of Stressed Assets Resolution Group at SBI. He also led retail branches in Kerala for six years and managed teams handling stressed accounts across industries.
Competition for Dhanlaxmi Bank CEO post
The competition for the CEO position at Dhanlaxmi Bank has narrowed to five candidates. Notably, among them are Ajith Kumar K K, a senior executive at Federal Bank, and Madhav Nair, currently serving as country head and CEO of Bank of Bahrain and Kuwait (BBK). Ajith Kumar was previously shortlisted twice for the CEO role. These candidates are now under RBI scrutiny.
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