HDFC Bank share price recovers after tumbling 9% post-analyst call on Atanu Chakraborty's resignation; what Keki Mistry said

“We confirm that there are no reasons other than those mentioned in the said letter for the resignation of Mr Chakraborty. Further, Mr Chakraborty does not hold directorship in any other company," the filing added.

HDFC Bank further said that based on an application made by the bank in this regard, the Reserve Bank of India, on March 18, 2026, has granted its approval for the appointment of Keki Mistry as an interim part-time chairman of the bank with effect from March 19, 2026, for a period of 3 months.

However, the stock recovered after the bank held a conference call with analysts and investors regarding the issue at 9 AM on Thursday.

What Keki Mistry said in the concall

Keki Mistry said, "We wish to assure all shareholders that there are no material matters for the resignation." No operational issues highlighted; collective resolve to protect all stakeholders is unwavering. The bank operates with strong governance standards, Mistry added.

"Based on our discussions, there were no specific practices or happenings that were brought to our attention," Mistry added.

Mistry further said, "I want to emphasise I would not have taken this responsibility at age 71 if it did not align with my principles & integrity."

What Atanu Chakraborty said in his resignation letter

Chakraborty said, "I joined the board of HDFC Bank in May 2021. My tenure on the board saw momentous events like the merger of the bank with HDFC Ltd that created a conglomerate under the bank. This strategic initiative made HDFC Bank the second-largest bank in the country. Though the benefits of the merger are yet to fully fructify.

Chakraborty further said, "Certain happenings and practices within the bank, which I have observed over the last two years, are not in congruence with my personal values and ethics. This is the basis of my aforementioned decision. I confirm that there are no other material reasons for my resignation other than those stated above."

HDFC Bank, in its filing, said, "The Board of Directors places on record its appreciation for Mr Chakraborty’s contribution to the bank during his tenure and wishes him all the success in his future endeavours."

How stock is peforming

At the time of writing this article, HDFC Bank shares were trading over 5% lower at ₹800.50 apiece on the NSE. In the opening deals, the stock tumbled to ₹770 against the previous close of ₹843.05.