HDFC Bank shares fluctuate following CEO appointment

HDFC Bank shares experienced volatility during Monday trading as investors reacted to the appointment of Anup Bagchi as the bank’s next managing director and chief executive officer. The Reserve Bank of India has approved Bagchi’s three-year term, which begins October 27, succeeding Sashidhar Jagdishan.

Despite the leadership transition, the bank’s September-quarter business update showed growth, with gross advances rising 16.3% year-on-year to ₹32.19 lakh crore and deposits increasing 18.8% year-on-year to ₹33.27 lakh crore.

Market performance has been mixed; while some brokerages like Motilal Oswal and PL India have maintained Buy ratings with optimistic target prices, the stock has faced pressure, falling approximately 25% year-to-date. Investors remain focused on how the new leadership will manage loan growth and net interest margins following the merger with HDFC Ltd.