HDFC Bank is expected to initiate the process for the reappointment of Chief Executive Officer Sashidhar Jagdishan later this month, sources told ET NOW. Notably, the lender’s board is scheduled to meet on April 18 to consider its fourth‑quarter and full‑year financial results.
The bank’s Nomination and Remuneration Committee (NRC) is likely to review Jagdishan’s performance and tenure ahead of the board meeting, while also evaluating names for the next chairman, following the appointment of Keki Mistry as interim chairman after Atanu Chakraborty’s resignation. Any recommendation on Jagdishan’s reappointment would require board approval and subsequent clearance from the Reserve Bank of India (RBI), the sources added. CEO Sashidhar Jagdishan FY25 compensation rose about 11.8 per cent YoY to around Rs 12.08 crore
HDFC share price gained 3.2 per cent on Wednesday to hit an intraday high of Rs 755.90 apiece. It later pared some gains to trade 1.44 per cent higher at Rs 741.90 apiece.
HDFC Bank’s shares have seen a sharp correction in the short to medium term, underperforming the broader market. Over the past one week, the stock has declined 5.18 per cent, compared with a 2.14 per cent fall in the Nifty 50.
The weakness has deepened over the one‑month period, with HDFC Bank slipping 16.45 per cent, against a 9.42 per cent decline in the benchmark index. On a year‑to‑date basis, the stock is down 25.16 per cent, nearly double the 12.77 per cent drop recorded by the Nifty 50.
The underperformance continues over longer horizons as well. Over the past one year, HDFC Bank’s shares have fallen 16.08 per cent, while the Nifty 50 has declined a much lower 1.55 per cent. The stock has also delivered negative returns of 7.83 per cent over three years, sharply trailing the index’s 31.38 per cent gain. Over a five‑year period, HDFC Bank has been largely flat with a 0.22 per cent decline, compared with a strong 53.40 per cent rise in the Nifty 50.
