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HDFC Bank stock gains over 5% after RBI clears Sashidhar Jagdishan's name for new CEO

HDFC Bank share rose 5.79%  to Rs 1,059.90 against previous close of Rs 1,001.95 on BSE

twitter-logoBusinessToday.In | August 4, 2020 | Updated 13:20 IST
HDFC Bank stock gains over 5% after RBI clears Sashidhar Jagdishan's name for new CEO
HDFC Bank share has gained after 4 days of consecutive fall

HDFC Bank share gained in early trade today amid reports that banking regulator RBI had cleared name of Sashidhar Jagdishan as the next CEO of the private lender. Jagdishan will succeed Aditya Puri who will retire from the top post on October 26. Jagdishan will take over from Puri on October 27 for a period of 3 years.

Buoyed by the news of new CEO, HDFC Bank share rose 5.79%  to Rs 1,059.90 against previous close of Rs 1,001.95 on BSE.

HDFC Bank share has gained after 4 days of consecutive fall.

HDFC Bank share trades higher than 50 day and 100 day moving averages but lower than 5 day, 20 day and 200 day moving averages. HDFC Bank share has lost 5.36%  in one year and fallen 17.59% since the beginning of this year.

Aditya Puri sells HDFC Bank shares worth Rs 843 crore

Total 4.47 lakh shares changed hands amounting to turnover of Rs 46.35 on BSE. Market cap of HDFC Bank rose to Rs 5.76 lakh crore.

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Currently, Jagdishan is an additional director and head of finance, HR at HDFC Bank. Apart from Jagdishan, two other candidates Kaizad Bharucha and Sunil Garg were in fray for the top post in the private lender.

Jagdishan who has 29 years of experience joined the bank in 1996 as a manager in the finance function. He became Business Head- Finance in 1999 at the private lender and was appointed as Chief Financial Officer in the year 2008.

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By Aseem Thapliyal

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