The Reserve Bank of India’s approval to the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer of HDFC Bank sent the stock four per cent higher on Tuesday.
The lack of clarity on a successor to the bank’s existing MD & CEO, Aditya Puri, who is retiring in October this year, was a key reason for the correction in the stock in recent times. Says Gaurav Dua, head of Capital Market Strategy and Investments at Sharekhan: “Besides the end of the leadership overhang, the positive from this development is the smooth transition given ...
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