Shares of HDFC Bank rallied 3% to their day's high of Rs 727 on the NSE on Tuesday after the private lender submitted two candidates' names to the RBI for the role of CEO. This formally begins the succession process for Sashidhar Jagdishan, who is due to retire later this year, with brokerages maintaining their bullish calls for the stock.
While the lender has not named the two candidates yet, people familiar with the matter told The Economic Times that deputy managing director Kaizad Bharucha and one external candidate are on the list. ICICI Prudential Life CEO Anup Bagchi and Citi India CEO K Balasubramanian are among the prospective picks for the external candidate, sources said.
