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HDFC Bank Shares Fall 2 Percent Despite Anup Bagchi Appointment as CEO
M
Moneycontrol•05-10-2026, 16:33
HDFC Bank Shares Fall 2 Percent Despite Anup Bagchi Appointment as CEO
- •Shares of HDFC Bank declined over 2 percent to close at Rs 704.8 apiece on October 5 as investors evaluated the impact of Anup Bagchi taking over as the new CEO.
- •Anup Bagchi, currently CEO at ICICI Prudential Life Insurance and a former ICICI Bank veteran, succeeds Sashidhar Jagdishan, becoming the first outsider to lead HDFC Bank.
- •While major brokerages like Jefferies, Motilal Oswal, and Citi backed the appointment as a resolution to leadership uncertainty, analysts warned that operational adjustments and team rebuilding may take time.
- •HDFC Bank recently reported an 18.8 percent jump in deposits and a 16.3 percent rise in gross advances as of September end, despite recent stock underperformance.
Key Questions Answered
HDFC Bank shares fell over 2% as investors weighed the impact of Anup Bagchi taking over as CEO and priced in a potential period of operational clean-up and changes before growth accelerates.
Anup Bagchi succeeds Sashidhar Jagdishan, who decided not to seek reappointment after his second three-year term concluded in late October.
HDFC Bank reported a jump of around 18.8% in its deposits and a 16.3% rise in its gross advances as of the end of September.
