HDFC Bank Shares Extend Previous Session’s Losses, End Over 2% Lower
New Delhi, Mar 20 (PTI) Shares of HDFC Bank ended over 2 per cent lower on Friday, extending the previous day’s losses, after its non-executive chairman Atanu Chakraborty abruptly resigned, citing differences over “values and ethics”.
The bellwether stock declined 2.41 per cent to settle at Rs 780.45 on the BSE. During the day, it dropped 2.63 per cent to Rs 778.60.
At the NSE, it edged lower by 2.22 per cent to end at Rs 780.45.
Shares of HDFC Bank had dived over 5 per cent on Thursday.
The company’s market valuation has eroded by Rs 95,575.65 crore to Rs 12,01,267.28 crore in two days.
Reasons Behind Atanu Chakraborty’s Resignation
HDFC Bank’s non-executive chairman, Atanu Chakraborty, abruptly resigned, citing differences over “values and ethics” — a ground that the management of the country’s second-largest lender said was baffling, as the former bureaucrat offered no specific instance despite repeated requests.
HDFC Bank share price has been under pressure after the resignation of Atanu Chakraborty.
Keki Mistry, a veteran of the HDFC Bank Group, who was appointed the interim chairman following the resignation, said there may have been “relationship issues” between Chakraborty and the executive leadership, but found no “substantive” concerns behind the departure.
Mistry emphasised that the bank’s operations and governance remain stable.
Impact on Indian Banking Sector
This is the first time that a part-time chairman of HDFC Bank left mid-way, raising concerns over the lender’s functioning.
“Certain happenings and practices within the bank that I have observed over the last two years are not in congruence with my personal values and ethics. This is the basis of my aforementioned decision,” he said in his resignation letter dated March 17.
In a letter addressed to the Chairman of Governance, Nomination, Remuneration Committee (NRC), H K Bhanwala, Chakraborty said, “There are no other material reasons for my resignation other than those stated above”.
In a late evening Wednesday filing, HDFC Bank said Chakraborty has on March 18, 2026, tendered his resignation as the Part-time Chairman and Independent Director of the bank with immediate effect.
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What’s Next for HDFC Bank?
The resignation of Atanu Chakraborty has raised several questions about the future of HDFC Bank. Will the bank’s operations and governance remain stable? How will the bank’s share price be affected in the long term?
Only time will tell, but one thing is certain – the Indian banking sector is going through a period of significant change and uncertainty.
As an investor, it’s essential to stay informed and up-to-date on the latest developments in the Indian stock market. You can do this by following reputable sources of financial news and analysis, such as stock market news websites and financial blogs.
Additionally, it’s crucial to have a well-diversified investment portfolio that includes a mix of low-risk and high-risk investments. This can help you mitigate potential losses and maximize potential gains.
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