plummeted sharply in early trade on Thursday after Atanu Chakraborty, the bank’s Part-time Chairman and Independent Director, resigned citing ethical concerns about the lender’s internal practices.
At 9.48 am on the , the stock was trading at ₹800.00, down ₹43.05 or 5.11 per cent from its previous close of ₹843.05. The stock opened at ₹770.00 — also the day’s low — marking a fresh 52-week low, breaching the earlier floor of the 52-week range. It has since recovered marginally to ₹800, with a day high of ₹814.50. Trading volumes were heavy, with over 651 lakh shares exchanged worth ₹5,199 crore by mid-morning.
Chakraborty, in his resignation, stated that “certain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics.” The bank is currently in a board meeting, with further disclosures expected.
The sell-off reflects sharp investor concern. The stock has lost over 19 per cent year-to-date and is down nearly 8 per cent over the past year, significantly underperforming the broader Nifty 50 index. Its market capitalisation currently stands at approximately ₹12.31 lakh crore. The 52-week high was ₹1,020.50, recorded in October 2025, putting the stock nearly 22 per cent below that peak.
Buy orders account for 58.57 per cent of current market activity versus 41.43 per cent on the sell side.