Stock market today, March 10 -- Shares of private sector lender IndusInd Bank tumbled over 5% to a fresh 52-week low on Monday, March 10, after the Reserve Bank of India (RBI) extended the CEO's term for a lesser period than the board sought, prompting brokerages to lower their target prices on the stock.

IndusInd Bank on Friday, March 7, announced that Sumant Kathpalia has been appointed as the Managing Director & CEO of the bank for a further period of one year with effect from March 24, 2025, till March 23, 2026. This marked the second instance when the MD's term extension was shorter than the board's proposal.

The RBI's extension for a one-year term to incumbent MD & CEO will keep uncertainties lingering around the potential leaders...