HDFC Bank extends rise on CEO search hopes, rate hike expectations
Top private lender HDFC Bank's shares rose as much as 1.33% to 749.3 rupees apiece, highest since Aug. 4. HSBC Global Investment Research said on Monday that HDBK's communication on strategy, funding and risks could help the bank see a real turnaround in its performance, reiterating a 'hold' rating at a price target of 830 rupees. Meanwhile, The Economic Times Newspaper reported on Tuesday that the RBI has begun seeking feedback on the candidature of Anup Bagchi for the position of MD and CEO of HDBK.
3 rupees apiece, their highest since Aug. 4. HSBC Global Research on Monday said HDBK's communication on strategy, funding and risks could help the bank see a real turnaround in performance. 4% upside over the last close.
HSBC analysts said clarity on the CEO appointment and repo rate hikes could act as near-term catalysts. Meanwhile, The Economic Times reported on Tuesday that RBI has begun seeking feedback on the candidature of Anup Bagchi, currently managing director and chief executive of ICICI Prudential Life, for the position of MD and CEO of HDBK. 3% slide in Bank Nifty. The stock was up 2% in two sessions.
com; +91 9769003463;))