HDFC Bank shares climb 3% on submitting names of CEO candidates to RBI; key details

The stock soared as much as 3.18% to hit an intraday high of ₹730.75 per equity share on the National Stock Exchange (NSE) on Tuesday, September 15, compared with Friday’s closing price of ₹708.25 per unit.

At around 9:41 PM, the scrip was trading 2.07% higher at ₹722.90 apiece. It has jumped 3% in the past week but is down 27% year-to-date (YTD).

While the shares hit a 52-week high of ₹1,020.50 per unit on October 23, 2025, they touched a year’s low of ₹681.90 apiece on September 11, 2026.

According to a regulatory filing dated September 12, the bank said that it has submitted the names of two candidates “in order of preference and the remuneration proposed to be paid to them” for the position of MD & CEO, for a period of three years, to the RBI.

This comes a fortnight after HDFC Bank’s incumbent MD & CEO Sashidhar Jagdishan conveyed his decision to the board not to seek reappointment to the top post.

At its meeting held on August 29, 2026, the Board of Directors took note of Jagdishan’s communication. Despite the board’s persuasion, Jagdishan reiterated his decision not to seek reappointment.

“Accordingly, he shall retire from the services of the Bank upon the close of business hours on October 26, 2026,” HDFC Bank had said in an exchange filing.

Changes in board

The bank also informed the exchanges about changes in its board, increasing the number of whole-time directors to four from the present three, “in order to have sharper synergy and oversight, including on the subsidiaries of the Bank as well as to have larger pipeline for succession planning”.

It added that the position will be filled in consultation with the new MD & CEO, after he or she takes charge of the position.

Furthermore, its board also appointed chief credit officer Jimmy Tata as a whole-time director for a period of three years with effect from the “date of approval of RBI or such other date or period specified by RBI”.

HDFC Bank Q1 results

The bank reported a net profit of ₹19,060 crore in the first quarter of the 2026-27 financial year (Q1 FY27), marking an increase of 5% year-on-year (YoY) from ₹18,155 crore in the same period last year driven by healthy loan growth and controlled credit costs.

The net profit in April-June period was also aided by sharply lower provisions for bad loans. Its provisions during the quarter dropped by 79% to ₹3,060 crore from ₹14,442 crore and the total credit cost ratio was at 0.40% for the quarter ended June 30, 2026.

The bank's net interest income or the difference between interest earned on loans and expended on deposits rose by 7% to ₹33,534 crore in first quarter from ₹31,438 crore in the year-ago period.

Net interest margin was at 3.26% on total assets, and 3.40% based on interest earning assets.

HDFC Bank has a total market capitalisation of ₹11.19 lakh crore as of September 15, 2026, according to data on the NSE.