From The Economic Times · Veer Sharma · · 1m 40s
HDFC Bank Shares Rise After New CEO Appointment
HDFC Bank shares climb 2% as Anup Bagchi becomes new CEO, Q2 results show growth.
In brief
HDFC Bank shares climb 2% as Anup Bagchi becomes new CEO, Q2 results show growth. HDFC Bank shares rose 2% to Rs 734 on BSE after appointing Anup Bagchi as MD & CEO, with Q2 advances up 14% year-on-year. Originally reported by The Economic Times.
HDFC Bank Shares Rise
HDFC Bank shares gained 2% to their day's high of Rs 734 on BSE Monday after appointing new MD & CEO Anup Bagchi.
“HDFC Bank shares gained 2% to thier day's high of Rs 734 on the BSE on Monday after appointing its new MD & CEO Anup Bagchi”
Anup Bagchi Takes Charge
Bagchi, an ICICI Group veteran with over three decades of experience, will become MD & CEO after Sashidhar Jagdishan's term ends October 26.
“Bagchi has already joined HDFC Bank's board as an Additional Director, effective October 2, for a three-year term as MD & CEO”
Current Role
Bagchi is currently the outgoing MD & CEO of ICICI Prudential Life Insurance.
“Bagchi, an ICICI Group veteran with over three decades of experience, is currently the outgoing MD & CEO of ICICI Prudential Life Insurance”
Leadership Uncertainty Ends
His appointment ends leadership uncertainty after Sashidhar Jagdishan announced he would not seek reappointment.
“His appointment ends the uncertainty over HDFC Bank's top leadership after Sashidhar Jagdishan announced that he would not seek reappointment as MD & CEO when his current term ends later this month”
Jefferies Rating
Jefferies retained Buy rating with target price of Rs 880 per share, citing RBI approval for clarity on management succession.
“Jefferies retained its Buy rating on the lender with a target price of Rs 880 per share”
Jefferies Analysis
Jefferies said timely team changes and opportunities from retail credit growth could support earnings and stock re-rating.
“Jefferies said the RBI's approval of Anup Bagchi as MD & CEO will provide greater clarity on management succession and the bank's strategic direction”
Morgan Stanley Rating
Morgan Stanley maintained Overweight rating with target price of Rs 1,025, implying 42% upside potential from current price.
“Morgan Stanley also maintained its Overweight rating on HDFC Bank with a share price target of Rs 1,025”
Citi Rating
Citi retained Buy rating with target price of Rs 970, implying 35% upside potential following Bagchi's appointment.
“Citi retained its Buy rating on HDFC Bank with a target price of Rs 970, implying an upside potential of around 35%”
Q2 Business Update
HDFC Bank's average advances under management rose 14% to Rs 31.87 lakh crore in Q2 2026.
“HDFC Bank's average advances under management stood at Rs 31.87 lakh crore in the September 2026 quarter, up around 14% from Rs 27.95 lakh crore in the corresponding quarter last year”
Q2 Results
Period-end advances under management reached Rs 33.08 lakh crore, marking 15.3% year-on-year growth.
“Period-end advances under management stood at approximately Rs 33.08 lakh crore as of September 30, 2026, marking growth of around 15.3% from Rs 28.69 lakh crore a year earlier”
The headline
HDFC Bank shares rose 2% to Rs 734 on BSE after appointing Anup Bagchi as MD & CEO, with Q2 advances up 14% year-on-year.
