India's HDFC Bank extends rise as CEO search, rate hike hopes lift sentiment

ICICI Life Insurance

22/09/2026 06:38

** Top private lender HDFC Bank'S shares HDBK.NS rise as much as 1.33% to 749.3 rupees apiece, highest since Aug. 4
** HDBK's communication on strategy, funding and risks could help the bank see a real turnaround in its performance, HSBC Global Investment Research says on Monday 
** Reiterates "hold" at a price target of 830 rupees, a 16.4% implied upside over last close
** Positive developments such as clarity on the CEO appointment, repo rate hikes could act as near-term catalysts, HSBC analysts say   
** Meanwhile, The Economic Times Newspaper reports on Tuesday RBI has begun seeking feedback on the candidature of Anup Bagchi, currently managing director and chief executive of ICICI Prudential Life for the position of MD and CEO of HDBK
** HDBK down 25% in 2026 so far, compared to 10.4% drop in Nifty 50 .NSEI and 5.3% slide in Bank Nifty .NSEBANK
** HDBK extends gains on Tuesday, up 2% in two sessions

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))