India's HDFC Bank heads for sixth weekly loss as CEO succession weighs
BUZZ-India's HDFC Bank heads for sixth weekly loss as CEO succession weighs ** Shares of India's HDFC BANK HDBK.NS fall 3.95% to 684 rupees this week, extending losses for sixth consecutive week
** Stock falls 1.38% on Friday, second-biggest loser on Nifty Private Bank index .NIFPVTBNK, which is down 0.2%
** Investors await clarity on succession at India's largest private lender after CEO Sashidhar Jagdishan said on August 29 he would step down when his term ends on October 26
** Bank said it would fast-track selection of successor; no replacement has yet been announced
** Broader Indian equities slip on escalating Middle East tensions and higher crude prices
** HDFC Bank down 31% YTD, compared with a 5.1% decline in Nifty Private Bank index
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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