HDFC Bank shares cross ₹811 as shareholders approve Bagchi’s appointment

HDFC Bank's shares climbed 1.70 per cent, reaching ₹811.70 on the NSE. This upward movement occurred as shareholders formally approved Anup Bagchi's appointment as Managing Director and Chief Executive Officer. The stock, which had hit a 52-week low of ₹669.20 in October, had opened at ₹810.10 and peaked at ₹817.85 during the day.

The trading volume amounted to 337.09 lakh shares, totaling ₹2,739.73 crore, with a delivery quantity of 66.97 per cent. The P/E ratio increased to 15.38, adjusted to 15.16. Institutional investors contributed to the positive sentiment, with Motilal Oswal and Jefferies expressing optimism about the bank's financial performance. The Bank Nifty index opened near 60,525, showing strong momentum, although with a potential for occasional profit-taking.