HDFC Bank shares climb nearly 3 pc

NEW DELHI: (Aug 31) Shares of HDFC Bank climbed nearly 3 per cent on Monday after its Managing Director and Chief Executive Sashidhar Jagdishan opted out of being considered for reappointment after his current term ends on October 26.

The HDFC Bank board will fast-track the process for selection and appointment of Jagdishan’s successor “well within time”, a company exchange filing said on Saturday.

Bucking a weak trend in the equity market, the stock went up by 2.70 per cent to Rs 739.50 on the BSE.