Axis Bank hit a new 52-week high today morning at Rs.676.90, within minutes of opening.

The market is celebrating the appointment of a veteran banker at the helm. Amitabh Chaudhary who is currently the MD & CEO at HDFC Life Insurance. He will succeed Shikha Sharma when she steps down at the end of the year. Chaudhry’s innings at Axis Bank, which will start from January 1.

Chaudhary is credited for the super duper listing of HDFC Life Insurance and he comes with vast years of rich experience in the banking sector.

Chaudhary started his career with Bank of America in 1987, where he eventually became the Managing Director and Head Technology Investment Banking, Asia and was later associated with CALYON Bank.

It is hoped that Chaudhary will help the Bank re-invent itself as it now tried to focus more on retail lending and digital banking.