HDFC Bank stock falls over 4% as chairman resigns on ethical grounds
The Hindu
HDFC Bank shares drop over 4% following chairman’s ethical resignation, raising insider trading and management concerns.
The sudden resignation of HDFC Bank part-time chairman Atanu Chakraborty on ethical concerns has adversely impacted the bank’s share prices besides putting pressure on the management and board to clarify doubts on lapses if any.
On Thursday (March 19, 2026), the stock crashed 4.45% on BSE soon after opening even as the benchmark index the Sensex fell over 2% owing to developments in West Asia.
On Wednesday (March 18), the HDFC Bank stock had closed lower despite the indices being in the positive territory before the resignation news came out, raising speculations wherever there was insider trading at the bank.
The Bank on Thursday clarified to stock exchanges that though the chairman’s resignation letter was dated March 17, it was received by the Bank on March 18 after market hours.
HDFC Bank, India’s largest private sector bank, on Wednesday night announced the resignation of Atanu Chakraborty as part-time Chairman and Independent Director with immediate effect, along with the appointment of HDFC veteran Keki Mistry as Interim Chairman for a three-month period.
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