India's HDFC Bank rise; CEO to not seek reappointment

HDFC Bank

31/08/2026 04:56

** HDFC Bank HDBK.NS shares up 1.6% to 732.1 rupees
** India's largest private lender said on Saturday that CEO Sashidhar Jagdishan has decided not to seek reappointment when his term ends at the end of October 
** Reuters exclusively reports the bank is likely to name Deputy MD Kaizad Bharucha as one  of two candidates for next CEO
** Bernstein ("Outperform"; PT: 1,150 rupees) says the announcement prolongs uncertainty around CEO succession
** However, brokerage views this positively as it avoids a potential RBI-imposed short term (under 2 years), which would have worsened governance concerns
** Adds this gives the incoming CEO a clean slate to reset expectations after the bank underperformed investor targets
** JP Morgan ("Overweight"; PT: 990 rupees) agrees, noting swift successor appointment could ease investor concerns, with much risk already priced into valuation
     

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))