HDFC Bank ADR Tanks 7.5% After Chairman’s Sudden Exit Over Ethics

ADR declined 7.5% following the resignation of part-time chairman Atanu Chakraborty, reportedly due to ethical differences. Chakraborty, who first assumed the role in April 2021, had recently been reappointed in May 2024 for a term extending until May 2027. The development has weighed on investor sentiment amid already mixed performance trends. The stock has delivered a modest 1.24% return over the past week but remains under pressure with a 7.9% decline over one month. On a broader scale, returns stand at -3.33% over one year and -14.94% year-to-date. Meanwhile, Gift Nifty indicates a sharply negative opening, down over 500 points, indicating broader market weakness. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.