Succession uncertainty over; HDFC Bank stk outperformance unlikely: Experts

The stock is, however, unlikely to outperform, say analysts, who feel the issues related to the moratorium induced across the financial sector due to Covid-19 pandemic will weigh on the sentiment

HDFC Bank on Tuesday named Sashidhar Jagdishan as the successor to Aditya Puri, their chief executive officer once the latter retires in October 2020. The move, analysts say, will remove the overhang on the stock as regards the successor for the private sector lender.
 

"We wish to inform you that the Reserve Bank of India (‘RBI’) vide its communication dated August 3, 2020, has approved the appointment of Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 years w.e.f. his date of taking charge, i.e. October 27, 2020," the bank said in an exchange