HDFC Bank Share Price Rises 3% as CEO Succession Process Moves to RBI
Add Preferred News Source
HDFC Bank Share Price Today: HDFC Bank shares rose as much as 3.18% on Tuesday after the board forwarded two CEO candidates, Kaizad Bharucha and Anup Bagchi, to the RBI for approval.
Shares of HDFC Bank Ltd opened higher on Tuesday, September 15, as the private sector lender moved closer to resolving its long-pending CEO succession.
The stock opened at ₹722.40 on the NSE and climbed to ₹730.75 within minutes of the market opening, up 3.18% from the previous close. It later pared some of the gains and was trading around ₹726.30, up 2.6%, at 9:20 am.
The latest move came after reports that the bank has shortlisted two candidates for the top job and has forwarded their names to the Reserve Bank of India (RBI) for approval. The central bank is expected to take a decision within the next 7-10 days, according to people familiar with the matter.
HDFC Bank CEO race: Who are the two candidates?
The two names under consideration are Anup Bagchi, MD and CEO of ICICI Prudential Life Insurance, and Kaizad Bharucha, Deputy MD of HDFC Bank.
Bharucha represents the internal option. He has been associated with the HDFC Group since 1995 and has worked across several businesses, including corporate banking, retail assets, mortgages, emerging corporates and business banking. He was appointed Deputy MD of the bank in 2023 and was also involved in the integration of HDFC Ltd with the lender.
Bagchi, meanwhile, brings around three decades of experience in banking and financial services. He has held roles across retail and corporate banking, MSME, rural banking, treasury and markets, and previously headed ICICI Securities. He became MD and CEO of ICICI Prudential Life Insurance in 2023.
The move to send the names to the RBI marks an important step in a succession process that has remained an overhang for the stock. A decision on the next chief executive could therefore provide greater clarity on the bank's leadership direction.
HDFC Bank share price: Stock remains down this year
The latest rally comes after a difficult year for the lender. HDFC Bank shares remain down around 27% so far in 2026 and more than 25% over the past 12 months.
The CEO succession has been a key focus for the market, and a regulatory approval could remove an important source of uncertainty around the bank. Market expectations are that the appointment could be finalised before the end of September.
Also Read - NSE IPO Opens September 17 As 11 Issues Hit Primary Market This Week
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
Right Tools, Rich Insights
