business π HDFC Bank could jump 62% based on CEO options
Macquarie maintained an 'Outperform' rating on HDFC Bank with a βΉ1,150 target price, suggesting a 61.5% upside. The rating comes amid uncertainty regarding CEO Sashi Jagdishan's tenure ending on October 26, 2026. The brokerage sees two equally likely paths: a short six-month extension or a full three-year renewal for Jagdishan. The NRC will evaluate candidates before the board recommends the choice to the RBI for final approval. These succession scenarios are currently weighing heavily on investor sentiment for the bank. π¦