shares were in focus on Monday, trading largely flat on the at ₹709.80 at 10.26 am after moving between ₹708.75 and ₹713.
The stock opened at ₹712.10, the same as its previous closing level. In the pre-open session, HDFC Bank shares had traded at the ₹719 level.
HDFC Bank shares trade flat at 10.31 am
The stock witnessed a sell quantity of 16,06,883 units and a buy quantity of 11,12,796 units. Traded volume stood at 29.44 lakh shares, while traded value was ₹209.26 crore.
of ₹698.50 on September 1. Its total market capitalisation stood at ₹10.94 lakh crore, while the adjusted P/E was at 13.70.
The stock’s absolute return for the week stood at +0.04 per cent. It fell nearly 3 per cent over a month and was down 28.44 per cent on a YTD basis.
HDFC Bank recently informed exchanges that it had elected to exercise the call option for ₹739 crore Additional Tier 1 Notes issued on September 30, 2021, in the form of rupee-denominated bonds overseas.
The bank said it will redeem the bonds in full on the first call date of September 30, 2026, at the applicable redemption price, along with accrued and unpaid interest or distributions as applicable.
A letter dated September 1, 2026, was issued to the trustee, Citibank, N.A., London Branch, with instructions to issue a notice of redemption to all eligible bondholders as per the prescribed timelines and mode of delivery.
CEO succession in focus
The succession process at HDFC Bank has assumed greater significance after managing director and opted out of the reappointment process last month.
Jagdishan decided not to seek reappointment after completing his current term on October 26. He has spent nearly three decades at the bank in various capacities.
The HDFC Bank board said it will fast-track the process for selecting and appointing Jagdishan’s successor well within time.
Jagdishan’s reappointment had been the subject of speculation following the resignation of non-executive chairman Atanu Chakraborty in March this year, citing concerns over ethics and governance practices at the lender.
In late July, the bank board found shortcomings in deposit arrangements with the Maharashtra State Road Development Corporation and imposed a fine of ₹1 lakh each on Jagdishan and other key executives, while stating that their actions were not mala fide.
It was alleged that the bank paid over and above the card rate to secure high-value deposits from the state-run body and routed them as marketing spends.
The bank has also faced allegations of mis-selling Credit Suisse’s AT-1 bonds to diaspora clients from its Dubai DIFC branch, which led the local regulator to prohibit the bank from onboarding new customers or conducting new business last year.
There have also been reports of non-resident Indians being stuck with over $100 million in investments in a platform floated by Carlisle Asset Management and sold as a high-yield product, with clients unable to redeem their investments.