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Axis Bank's share price rose 1.6% on Thursday, bringing it up to 6% after five consecutive sessions, after the Macquarie Global Brokerage expects an increase of 15%. %
the title with a target price at Rs 615 per share because he believes that an external candidate would be more suitable for the position of CEO of the private sector lender.
Macquarie said the external candidates for the position of CEO are PS Jayakumar, Pramit Jhaveri and Shirish Apte while internal candidates include current DMD V Srinivasan and ED Rajiv Anand.
The board of Axis Bank recommended the names of three candidates for the position of CEO, the bank said in a statement to the stock exchanges on July 10. ] Names were recommended in the order of preference for approval by the Reserve Bank of India (RBI), the release added.
The candidate, as approved by the RBI, will succeed Shikha Sharma, whose term as MD & CEO is due to expire on December 31, 2018.
In April, the bank reduced the term of Shikha Sharma at seven months against three years at his request. Sharma has been at the helm of the bank since June 2009.
At 14:22 hours, IST, the Axis Bank stock price quoted at Rs 540.35, up Rs 3.75, or 0 70%.
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