Bandhan Bank Shares Slide Nearly 10% in Two Days, Mark Biggest Fall in 5 Months

The stock has shown weak momentum so far in March, advancing in only 3 out of the last 11 trading sessions. On Tuesday, as of 11:13 am, the stock fell 1.96% to ₹159.35 on the NSE.

Bandhan Bank Heavy Volumes Signal Selling Pressure

On Monday, trading activity surged significantly, with the stock witnessing 363 crore shares changing hands, indicating strong selling pressure. However, on Tuesday, volumes moderated, with 53 crore shares traded. Despite the decline, Monday’s figures marked the highest trading volume for the stock so far in March.

Bandhan Bank Technical Breakdown Below Key Moving Averages

On the technical charts, the stock has broken crucial support levels below, slipping under its 50-day moving average at ₹161.2 and the 200-day moving average at ₹164. The next key downside level is the 100-day moving average at ₹156.76.

Momentum indicators also point to weakness, with the Relative Strength Index at 38, approaching the oversold zone. An RSI reading below 30 typically signals oversold conditions.

Reports of Promoter Stake Sale Weigh on Sentiment

The sharp fall followed reports that promoter Bandhan Financial Holdings is exploring options such as a stake sale or an initial public offering to facilitate the exit of long-term investors like GIC.

As of the December 2025 quarter, Bandhan Financial Holdings held a 39.07% stake in the bank.

However, the bank denied any such developments, stating in a regulatory filing that it is not aware of any such plans and has not received any communication regarding the same. It added that it is not in a position to comment on the correctness of the news reports.

Bank Clarifies on Price Movement

In response to queries from the BSE and NSE, the bank reiterated that it has disclosed all material information as required under SEBI regulations and has not withheld any price-sensitive information.

The bank stated that there is no undisclosed development, no ongoing negotiations, and no regulatory or legal proceedings related to the reported news. It emphasized that the recent decline in share price is purely market-driven and that there is no material impact of the media reports on its operations.

Broader Banking Stocks Also Under Pressure on Monday

Alongside Bandhan Bank, shares of IDBI Bank and Fino Payments Bank also saw sharp declines.

IDBI Bank shares dropped 16.49% to ₹77 from ₹92.20 following reports that its strategic disinvestment process may have been scrapped due to bids coming in below the reserve price. The Government of India and Life Insurance Corporation of India together hold a 94.71% stake in the bank, with 60.72% proposed for divestment. The bank clarified that it has not received any communication regarding the scrapping of the disinvestment.

Fino Payments Bank shares declined 17.15% to ₹140.05 from ₹169.05 amid reports that certain online gaming-related transactions could come under scrutiny by the Enforcement Directorate. The bank denied these reports, calling them speculative and non-factual. It clarified that it is not under investigation by any agency other than the Directorate-General of GST Intelligence, Hyderabad.

The development follows the earlier disclosure that its MD and CEO, Rishi Gupta, was arrested on February 27 under provisions of the Central Goods and Services Tax Act and the State GST Act. The bank stated that the matter relates to alleged GST evasion by certain programme managers associated with it.

Election Announcement Adds to Uncertainty

Investor sentiment was also impacted after the Election Commission of India announced the schedule for the West Bengal assembly elections. Polling will be held in two phases on April 23 and April 29, adding a layer of uncertainty given the bank’s exposure to the region.