HDFC BANK SHARES RISE AS MD-CEO SUCCESSION

HDFC Bank shares rose nearly 1 percent on Tuesday, extending gains for a second consecutive session after progress in the lender’s closely watched search for a new Managing Director and CEO. According to the report, the Reserve Bank of India has started seeking feedback on the candidature of Anup Bagchi, currently MD and CEO of ICICI Prudential Life Insurance. Bagchi is reportedly among the frontrunners for the top position at HDFC Bank. HDFC Bank shares gained 0.9 percent in early trade, following a 1.16 percent rise in the previous session. Despite the recent gains, the stock remains down 25.4 percent so far in 2026, compared with a 10.5 percent decline in the Nifty 50. The lender’s market capitalisation stood at around Rs 11.4 lakh crore. The RBI’s assessment comes as HDFC Bank’s succession process enters a crucial phase. The current MD and CEO, Sashidhar Jagdishan, is set to complete his term on October 26 after informing the bank’s board last month that he would not seek another term. On September 12, HDFC Bank submitted two candidates to the RBI, in order of preference, for appointment as MD and CEO for a three-year term. The bank did not disclose their names at the time. According to The Economic Times report, Bagchi is one of the candidates, while HDFC Bank Deputy Managing Director Kaizad Bharucha is the other. Bharucha, 61, has served as a whole-time director at HDFC Bank since June 2014. His tenure could present a regulatory consideration, as he would reach the RBI’s 15-year limit for continuous service as a whole-time director, MD or CEO in June 2029, before completing a full three-year term as the bank’s CEO.