Kamal Ghorui
HDFC Bank share price today: Shares of HDFC Bank. India’s largest private sector bank, tanked by as much as 3 per cent on Monday, touching an intraday low of Rs 756.30. The stock has now extended its losing streak to four sessions, slipping around 10 per cent over this period and wiping out nearly Rs 1.35 lakh crore in market value. Over the past three months, it has fallen by almost 25 per cent.The sharp downturn intensified last Thursday, when the stock saw heavy selling pressure, with market capitalisation losses at one stage nearing Rs 1 lakh crore. The selloff was triggered by the resignation of Atanu Chakraborty, who said that certain “happenings and practices” within the bank over the past two years did not align with his personal values and ethics.After his departure, the bank’s Managing Director and CEO Sashidhar Jagdishan said the board had requested Chakraborty to reconsider his decision and clarify his concerns. Despite repeated efforts by board members to convince him to withdraw his resignation, he chose to step down.Subsequently, HDFC Bank appointed former HDFC CEO Keki Mistry as interim part-time chairman, with the Reserve Bank of India granting its approval.HDFC Bank is set to convene a series of board meetings over the coming month to reassess earlier decisions in the wake of Atanu Chakraborty’s resignation. Jagdishan said the board will revisit past actions, pinpoint any shortcomings, and implement corrective measures where required. He added that any operational lapses would be addressed by reinforcing internal systems and controls, while any instances of misconduct would be handled firmly. The bank, he said, remains committed to maintaining transparency and resolving all issues, whether previously identified or newly emerging.The bank is currently trading at a price-to-earnings (PE) ratio of 16.48 and a price-to-book (P/B) ratio of 2.3, reflecting its valuation in relation to earnings and net asset value, according to an ET report.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
