Economy · India
HDFC Bank CEO Exit Prompts Brokerage Target Price Cuts, Succession Focus
HDFC Bank's CEO Sashidhar Jagdishan will not seek reappointment, leading Jefferies to cut its target price for the bank's shares to Rs 880 from Rs 1,050 while maintaining a Buy rating. The brokerage cited near-term risks to deposit mobilisation and fee income. Other brokerages also retained bullish calls but highlighted the need for the next CEO to establish a clear growth path and leadership reset. The bank plans to hire a headhunter to find a successor.
How outlets across the spectrum covered it
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- Centre (5): Business Standard, Business Today, Mint, The Economic Times, The Hindu BusinessLine
- International (1): Bloomberg