India's HDFC Bank extends rise as CEO search, rate hike hopes lift sentiment

By Reuters News

** Top private lender HDFC Bank'S shares HDBK.NS rise as much as 1.33% to 749.3 rupees apiece, highest since Aug. 4

** HDBK's communication on strategy, funding and risks could help the bank see a real turnaround in its performance, HSBC Global Investment Research says on Monday

** Reiterates "hold" at a price target of 830 rupees, a 16.4% implied upside over last close

** Positive developments such as clarity on the CEO appointment, repo rate hikes could act as near-term catalysts, HSBC analysts say

** Meanwhile, The Economic Times Newspaper reports on Tuesday 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

** HDBK down 25% in 2026 so far, compared to 10.4% drop in Nifty 50 .NSEI and 5.3% slide in Bank Nifty .NSEBANK

** HDBK extends gains on Tuesday, up 2% in two sessions

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.