- HDFC Bank shares dropped over 1% after RBI extended Keki Mistry's interim chairmanship
- Mistry's tenure extended by three months until September 18, 2026, or until a new chairman is appointed
- Atanu Chakraborty resigned as non-executive chairman citing ethical concerns about bank practices
The shares of HDFC Bank Ltd. fell over 1% after Reserve Bank has approved the extension of Keki Mistry's tenure as interim chairman for three months till September 18. Shares on Friday fell 1.29% with the stock trading at Rs 788.70 apiece at the opening bell. The stock further declined 2.18% post market open.
Mistry, a veteran of the HDFC Bank Group, was appointed as the interim chairman on March 18, following resignation of the bank's non-executive chairman Atanu Chakraborty. Chakraborty had resigned from the bank raising concerns over its functioning, and said that certain practices within the bank over the last two years are not in "congruence" with his "personal values and ethics".
In a regulatory filing on June 18, HDFC Bank said it had made an application to the RBI seeking extension of Mistry's tenure. "... the RBI, vide its communication dated June 18, 2026, has granted approval for the extension of tenure of Keki Mistry as an interim Part-time Chairman of the Bank for a further period of 3 (three) months until Sept 18, 2026 or till appointment of a regular Part-time Chairman, whichever is earlier," HDFC Bank said in a regulatory filing.
Mistry is currently a Director on the Board of HDFC Life Insurance Company, HDFC ERGO General Insurance Company, Tata Consultancy Services, HDFC Capital Advisors, The Great Eastern Shipping Company, KATB Consultant Pvt Ltd, Brookprop Management Services Pvt Ltd, and Flipkart Internet Private Ltd.
He was the Vice Chairman & Chief Executive Officer of Housing Development Finance Corporation Limited (HDFC Limited) prior to its amalgamation with the bank with effect from July 1, 2023.
ALSO READ: RBI Approves Extension Of Keki Mistry's Tenure As HDFC Bank Interim Chairman By 90 Days
HDFC Bank Share Price Today
HDFC Bank Share Price Today
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The scrip fell as much as 2.18% to Rs 786 apiece intraday on Friday at 9:35 a.m. This compares to a 0.81% decline in the NSE Nifty 50 Index.
It has fallen 59.39% in the last 12 months and 20.70% year-to-date. Total traded volume so far in the day stood at 38.72 times its 30-day average. The relative strength index was at 67.45.
Out of 47 analysts tracking the company, all 47 maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target of Rs 1048.16 implies an upside of 32.9%
ALSO READ: HDFC Bank Lands Tightest-Ever Spread On Its Dollar Bond
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