Shares of HDFC Bank emerged as one of the top gainers on the Nifty 50 by surging over 3 per cent in the early trade on Tuesday, September 15, 2026. The move comes after India’s largest private lender by assets has formally sent the names of two candidates as prospective successors to the Reserve Bank of India (RBI). The counter opened the trading session in the green, up 2.1 per cent to Rs 722.90 on the BSE. Amid a rally in the benchmark indices, the stock gained further and touched an intraday high of Rs 730.30, up Rs 22.3 or 3.14 per cent from the previous close. Last seen, the stock was trading at Rs 722.80 with a gain of 2.09 per cent, and the market cap of the company stood at Rs 11,14,136.86 crore.
HDFC Bank sends two names
HDFC has sent the names of two candidates as prospective successors to the Reserve Bank. The lender said its board approved these names following recommendations from its governance, nomination and remuneration committee. The development comes a fortnight after incumbent Sashidhar Jagdishan opted out of the race to continue as HDFC Bank’s managing director and chief executive.
As per the bank’s earlier notification, Jagdishan will retire on October 26, when his term as MD and CEO ends.
The lender has also announced changes to its board, increasing the number of full-time directors to four from three, and appointing chief credit officer Jimmy Tata as a full-time director, as per an exchange notification.
Nomura maintains ‘buy’ rating
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Meanwhile, brokerage firm Nomura has maintained its ‘buy’ rating on the stock, saying either an internal appointment or a credible external candidate could help address the leadership overhang.ย
The stock has outperformed the sector by 2.5 per cent and has gained over the last three days. It has risen 5.75 per cent in the period.ย
According to BSE Analytics, the stock has delivered 125.59 per cent returns over 10 years. However, it has corrected 6.71 per cent in five years and 25.35 per cent in one year. On a year-to-date (YTD) basis, the stock has dipped 27.16 per cent, compared with the benchmark index’s 12.28 per cent fall.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)