# HDFC Bank Shares Rise After New CEO Appointment

> HDFC Bank shares climb 2% as Anup Bagchi becomes new CEO, Q2 results show growth.
- Title: HDFC Bank Shares Rise After New CEO Appointment | Shortify
- Summary: 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…
- Keywords: hdfc bank, anup bagchi, ceo, shares, bse, rs 734, rs 31.87 lakh crore, rs 33.08 lakh crore, rs 32.20 lakh crore, rs 31.67 lakh crore, rs 9.71 lakh crore, HDFC
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/stocks/news/hdfc-bank-shares-in-focus-after-appointing-anup-bagchi-as-new-ceo-q2-biz-update-buy-sell-or-hold/articleshow/134685243.cms
- Author: Veer Sharma
- Published: 2026-10-05T03:58:00+00:00
- Read time: 1 min
- Topics: hdfc bank, anup bagchi, ceo, q2, shares, bse, rs 734, rs 31.87 lakh crore, rs 33.08 lakh crore, rs 32.20 lakh crore, rs 31.67 lakh crore, rs 9.71 lakh crore
## 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
## Key takeaway

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.