HDFC Bank shares slip on chairman appointment; Axis and Bandhan Bank react to CFO exits
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Shares of private sector lenders HDFC Bank, Axis Bank, Bandhan Bank and Yes Bank remained in focus on Tuesday after the banks announced key boardroom appointments, senior management changes and fundraising plans.
Shares of HDFC Bank , the country's most valuable private sector lender by market capitalisation, fell as much as 0.5% to ₹792.65 in early trade after appointing former Chief Election Commissioner and former Finance Secretary Rajiv Kumar as its new part-time chairman. In the first hour of trading, around 7.3 lakh shares changed hands on the BSE, while the bank's market capitalisation stood at ₹12.26 lakh crore.
The appointment, subject to approvals from the Reserve Bank of India (RBI) and shareholders, ends a three-month search for a permanent chairman following the resignation of Atanu Chakraborty in March.
The bank also appointed outgoing Axis Bank Chief Financial Officer Puneet Sharma as its CFO-designate. Sharma will join HDFC Bank on September 1 and assume charge as chief financial officer from December 1, succeeding Srinivasan Vaidyanathan, who is set to retire upon attaining the bank's retirement age.
Reacting to the development, Axis Bank shares were trading marginally higher at ₹1,358.50 after opening lower.
On Monday, Axis Bank informed exchanges that its CFO Puneet Sharma had resigned to pursue the "next phase" of his professional journey and would step down at the close of business on August 31. In his resignation letter, Sharma said the decision followed "careful contemplation" and reflected his desire to seek "a fresh start with new challenges."
"I leave with deep satisfaction in the achievements we made together, from strengthening our financial controls and reporting discipline to incorporating prudent financial practices, building resilience across the finance function and enhancing shareholder trust," he said.
Shares of Bandhan Bank also remained in focus after the lender announced the resignation of its Chief Financial Officer and Key Managerial Personnel, Rajeev Mantri. The bank said it received Mantri's resignation on June 29, 2026. At the time of reporting, the stock was trading 0.48% higher at ₹203.31.
Meanwhile, Yes Bank shares were trading 1.12% lower at ₹24.81 even after its board on Monday approved raising ₹16,000 crore through a mix of equity and debt securities. The board approved proposal to raise up to Rs 7,500 crore through the issuance of eligible equity securities via various permissible routes, while another 8,500 crore through eligible debt securities in Indian or foreign currency, to be issued in one or more tranches in domestic and/or overseas markets.
The broader market also remained under pressure, with the Nifty 50 down around 0.3% in morning trade, while the Nifty Private Bank index slipped 0.09%. Among major private lenders, Federal Bank gained over 2%, IndusInd Bank rose more than 1%, while ICICI Bank and Kotak Mahindra Bank traded in the red.
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