Market move▼ Bearish for HDFC Bank
HDFC Bank shares shed early gains, end over 2% lower
The stock slide comes as Anup Bagchi is set to become the next managing director and chief executive officer of HDFC Bank
- Nifty’s ailing warhorse HDFC Bank gets an all-rounder CEO. Can Anup Bagchi make the elephant dance?
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- Sensex rallies over 600 points as Indian markets rebound after eight weeks of declines
- HDFC Bank appoints Anup Bagchi as next managing director and CEO
- Anup Bagchi named HDFC Bank CEO; shares rise nearly 2%
HDFC Bank leadership change and share-price outlook
HDFC Bank shares fell about 15% since March in early reports and later were reported down 27% year to date, amid slowing growth, record-low margins and succession uncertainty. Anup Bagchi’s appointment as MD and CEO eased the succession overhang, prompting brokerages to cite re-rating potential and upside targets.
Monday, 5 October
- HDFC Bank shares shed early gains, end over 2% lower