India's HDFC Bank extends decline after report CEO reappointment recommendation delayed
21/07/2026 04:58
BUZZ-India's HDFC Bank extends decline after report CEO reappointment recommendation delayed ** Shares of HDFC Bank HDBK.NS drop 1% to 769.8 rupees, extending Monday's decline
** HDBK is awaiting the outcome of an additional review being conducted by its independent directors before it makes a recommendation to reappoint CEO Sashidhar Jagdishan to India's central bank, Reuters reported citing sources
** HDFC Bank spokesperson did not respond to Reuters request for comment
** Lender has faced investor scrutiny since mid-March when its former chairman Atanu Chakraborty resigned abruptly
** Stock down 9.2% since March 18, when Chakraborty resigned
** Stock fell 5.1% on Monday after Q1 margins disappointed investors
** YTD, HDBK down 22.4% vs Nifty 50's .NSEI 7.3% drop
(Reporting by Kashish Tandon in Bengaluru)
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