HDFC Bank Share Price Today at Rs. 785 After Chairman's Exit, Jefferies Issues ‘Buy’ Call

Overview

• HDFC Bank share price is down 1.62% at Rs. 785.25 with high trading volume of over 7.2 crore shares showing strong investor activity.

• The sharp fall was triggered by the sudden resignation of part-time chairman Atanu Chakraborty, which led to the stock’s biggest single-day drop in over two years.

• Despite the fall, brokerages like Jefferies and Motilal Oswal are positive, with target prices of Rs. 1,240 and Rs. 1,100, suggesting up to 55% upside from current levels.

The Indian stock market saw a notable split in performance today. While the broader Nifty 50 index showed signs of recovery, the HDFC Bank share price continued to face selling pressure. It is down 1.62% to Rs. 785.25 at press time. Traders are currently watching the 52-week low of Rs. 770 closely. The total trading volume for the stock is high at over 7.2 crore shares, showing active buying interest.

Here’s an in-depth analysis of HDFC Bank share price based on Moneycontrol data.

Part-time Chairman’s Resignation Triggers Sharp Selloff

The main reason for the recent drop is the sudden exit of the part-time Chairman, Atanu Chakraborty. He left his post, citing differences over values and ethics, which naturally made many investors nervous about how the bank is run. On March 19, the stock had its biggest single-day fall in over two years because of this news. However, the bank has moved fast to try to fix the situation.

The board has appointed Keki Mistry as the interim chairman for the next three months. This move is meant to show that HDFC Bank has a steady hand at the wheel while they look for a permanent replacement. Even with this news, the stock is struggling to stay in the green zone as the market processes the change in leadership.

HDFC Bank share price chart showed a dip of 1.63% at 2.46 PM:

What Big Brokerages Think of the Stock

Even though the HDFC share price is down right now, financial experts are still very positive about the bank’s future. Jefferies has kept a ‘Buy’ rating with a target price of Rs. 1,240. That is a huge jump of about 55% from where the price sits now. Motilal Oswal is also bullish and has set a target of Rs. 1,100. Both firms pointed out that the Reserve Bank of India (RBI) does not see any major problems with how HDFC Bank is governed. The brokerages feel that the bank is well-capitalized and has plenty of cash on hand to keep growing.

Also Read: Stock Market Today: Sensex Jumps 763 Points, Nifty at 23,248 as Oil Price Dips; RIL Share Price in Focus

Investor Outlook

For those holding the stock, the focus is now on who will become the permanent chairman and how the bank handles the CEO succession. The current CEO, Sashidhar Jagdishan, is expected to seek an extension to his term. RBI seems to favor him staying on to ensure stability during this period of turnover.

Right now, HDFC shares are cheap compared to previous prices. The stock has a Price-to-Earnings (PE) ratio of 16.22, which is lower than the general sector PE of 18.02. This suggests the stock might be undervalued. If the bank can provide clear answers on its future leadership soon, it could trigger the recovery that many experts are predicting.

Also Read: HDFC vs Parag Parikh vs Franklin: Which Flexi-Cap Fund Wins Your Core Portfolio?

FAQs

1. Why is HDFC Bank stock crashing?

HDFC Bank share price is falling mainly due to the sudden resignation of its part-time chairman, Atanu Chakraborty. His exit raised concerns about leadership and governance among investors. This led to strong selling pressure in the stock. Even though the bank quickly appointed an interim chairman, the market is still reacting to the uncertainty.

2. What is HDFC Bank share price today?

HDFC Bank shares are currently trading at around Rs. 785.25, which is down 1.62% for the day. The stock has been moving between Rs. 778 and Rs. 793 during the session. It is also close to its 52-week low of Rs. 770, making this an important level that traders are watching closely.

3. Is HDFC Bank stock a good buy?

Many experts still believe HDFC Bank is a good stock for the long term. Brokerages like Jefferies and Motilal Oswal have given ‘buy’ ratings with strong upside targets. They believe the bank’s fundamentals remain solid. However, in the short term, the stock may stay under pressure until leadership clarity improves.

4. Who is the new chairman of HDFC Bank?

Keki Mistry has been appointed as the interim chairman of HDFC Bank for the next three months. He has stepped in after the resignation of Atanu Chakraborty. His role is to provide stability while the bank searches for a permanent chairman. This move is expected to help calm investor concerns.

5. What are analysts saying about HDFC Bank shares?

Analysts are mostly positive on HDFC Bank despite the recent fall. Jefferies has set a target price of Rs. 1,240, while Motilal Oswal has given a target of Rs. 1,100. Both believe there are no major governance issues. They also highlight that the bank is financially strong and well-positioned for future growth.