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Shares of HDFC Bank were up even as the company's chief executive officer made a surprise announcement to not seek reappointment.
We haven't written up this one. CNBC has the full story — the link below goes straight to it.
Shares of HDFC Bank rose nearly 2.7% in early trading on August 31 as investors assessed the impact of the lender’s upcoming change in top management. The stock gained 2.7% to Rs 739.75, outperforming a weak broader market. The move follows MD and CEO Sashidhar Jagdishan’s decision not to seek another term.
The Indian Rupee (INR) opens slightly lower against the US Dollar (USD) at the start of the week. The USD/INR pair ticks up to near 95.43, as higher oil prices due to renewed tensions between the United States (US) and Iran have weighed on the Indian currency.
Soft demand weighs on the economy as Beijing seeks to maintain pace amid US trade frictions and an entrenched property crisis.
It could be a case of buyer beware following an exceptional decade of returns.
A spokesperson for Radiant World in Singapore declined to comment
