HDFC Bank chairman's exit over ethical concerns
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HDFC Bank share price hit the day's low of ₹781 and hovered close to their 52-week low of ₹772 hit in last trading session. So far in March, HDFC Bank stock has lost over 10%, putting it on track for the worst monthly decline since March 2020.
Chairman’s abrupt exit hasn’t found answers, yet brokerages back fundamentals even as sentiment turns cautious
A total of 35.39 lakh individual investors, holding nominal share capital up to Rs 2 lakhs, owned 9.41 per cent stake in HDFC Bank at the end of December quarter. That stake was worth Rs 1,13,039 crore at Friday's closing.
Shares of HDFC Bank Ltd., a heavyweight in both the Nifty 50 and Nifty Bank indices, opened as much as 9% lower on Thursday, March 19, following a change in leadership. However, the stock erased some losses following the management's conference call and are now trading 4% lower.
HDFC Bank shares crashed 8% to hit the 52-week low in early morning trade today, following the sudden resignation of Atanu Chakraborty. The stock is down 9% in March so far and on track for the worst monthly fall in 6 years.
Most companies in the Nifty 50 Index have retreated this year. Bajaj Finance stock has dropped by 20% in the last 30 days, while Larsen & Toubro, Tata Motors, Eternal Limited, Maruti Suzuki, Bajaj Finserv, HDFC, and Eicher Motors have dropped by over 15% in the last 30 days.
In technical terminologies, HDFC Bank shares have also entered a "bear market" zone, meaning a drop of 20% or more from its peak. The stock had hit a 52-week high of ₹1,020 on October 23 last year, and the stock has cooled off 22% from those levels.
Here are the stocks that are likely to be in focus on Friday, March 20, 2026: HDFC Bank Ltd: Addressing the exit of HDFC Bank Chairman Atanu Chakraborty. Bank’s CEO Sashidhar Ja