HDFC Bank slips further as Bagchi takes charge amid leadership uncertainty

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SENSEX 73,244.97

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CRUDEOIL 9,653.00

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GOLD 142,448.00

+ 424.00

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Bagchi inherits a bank under strain on multiple fronts; broader banking sector pressure added to the headwinds

By Anupama Ghosh

Updated - October 26, 2026 at 12:32 PM.

HDFC Bank shares fell 0.71 per cent to ₹687.90 on the NSE by 12.15 pm Monday, extending the stock’s week-long slide as new chief executive Anup Bagchi formally assumed office. Sellers dominated trade, accounting for 55.32 per cent of total quantity against buyers at 44.68 per cent, with traded volume reaching 115.52 lakh shares worth ₹797.01 crore.

The stock now sits just ₹6 above its 52-week low of ₹681.90, having shed nearly 31 per cent year-to-date against the Nifty 50’s 13.59 per cent decline over the same period. The P/E ratio has compressed to 13.34, with the adjusted figure at 13.15.

Bagchi inherits a bank under strain on multiple fronts. An internal probe into alleged disclosure of confidential information by two senior executives remains active and unresolved. Deputy Managing Director Kaizad Bharucha is scheduled to exit by December, compounding the leadership transition. Sashidhar Jagdishan, whom Bagchi succeeds, steps down after six years.

Broader banking sector pressure added to the headwinds. Bank Nifty opened below its previous close near 54,250, breaking below the 54,000 mark. The RSI has slipped into the mid-30s, signalling sustained selling momentum. Immediate support is seen at 53,800–53,700, while resistance lies at 54,300–54,400.

Total market capitalisation stood at ₹10,60,502.56 crore.

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Published on October 26, 2026

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