The lender shortlisted two candidates for its top post and sent the names to the central bank.
HDFC Bank gained ground on 15 September 2026 after submitting two shortlisted candidate names to the Reserve Bank of India for its managing director and CEO role. The lender is seeking a three-year appointment term for the position, following a board decision on 12 September 2026 that also expanded the number of whole-time directors to four.
On the National Stock Exchange of India, the stock climbed 3.18% to an intraday peak of INR 730.75, bouncing back from its 52-week low of INR 681.90 recorded on 11 September 2026. On the BSE, shares rose 3.14% to touch an intraday high of INR 730.30, compared with the prior close of INR 708.25 on 14 September 2026.
The price move lifted HDFC Bank's total market capitalization to INR 1,112,672.52 crore, adding INR 22,489.75 crore during the session.
Brokerages weighed in on the transition. Nomura set a target price of INR 950 for the shares, while Jefferies set its price target at INR 880.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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