HDFC Bank review removes key overhang with 'decent chance' of CEO extension, says Macquarie

HDFC Bank

28/07/2026 05:23

00    ** Macquarie says completion of HDFC Bank's HDBK.NS review of employees involved in settling deposit rates for a state agency removes a major pending issue and provides regulators with a definitive factual assessment
** Brokerage says the distinction between commercial overreach and misconduct is important and supports a constructive interpretation of the findings
** HDBK has faced investor scrutiny since mid-March when its former chairman Atanu Chakraborty resigned abruptly; stock down ~13% since
** Macquarie expects the reappointment process to progress in the coming weeks and says Jagdishan retains a decent chance of securing a three-year extension from the board and RBI
** HDBK down 0.3% at 737.35 rupees on Tuesday
** Macquarie maintains its "outperform" rating on stock with PT of 1,150 rupees
** YTD, HDBK down 25.7% vs Nifty 50's .NSEI 8.1% drop


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))