HDFC Bank slips; another Senior Executive departs
The stock remains down 30.26% year-to-date against the Nifty 50’s 10.87% decline
HDFC Bank's shares experienced a decline of 0.34 percent, closing at ₹690.45 on the NSE. Sellers dominated the trading, making up 68.79 percent of the volume, while buyers accounted for only 31.21 percent. The total traded volume amounted to 103.64 lakh shares, worth ₹718.40 crore, with a significant 71.02 percent of the quantity delivered, suggesting persistent selling rather than intraday trading activity.
This decline follows a regulatory filing made on October 31, 2026, where the bank announced that Sanjay D’Souza had retired from his position on the same day. D’Souza, who held the role of Group Head of Business Banking, Emerging & Micro Enterprises Group, and was a Senior Management Personnel, had spent nearly 27 years with the bank.
His departure marks a significant leadership transition, as the bank has recently seen its Managing Director and CEO, Sashidhar Jagdishan, step down, and Anup Bagchi assume the new position as of October 27. Additionally, Deputy Managing Director Kaizad Bharucha is set to exit by December. Despite these leadership changes, the stock has dropped 30.26 percent year-to-date, compared to the Nifty 50's 10.87 percent decline.
The P/E ratio stands at 13.34. Bank Nifty is currently trading at 54,686, facing resistance around 55,100-55,490 and support at 54,400-54,170. The broader banking index has yet to demonstrate a substantial recovery.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
