Banking giant in trouble! HDFC Bank shares plunge 12%, losing ₹1.52 lakh crore in three days
Following an 11.76 percent decline in the bank's shares over the past three trading days, the company's market valuation has fallen by ₹1,52,064.22 crore to ₹11,44,778.71 crore. Let us also explain what kind of figures are being seen in the shares of the country's largest private bank.
HDFC Bank shares are experiencing a downward trend. They have fallen by nearly 12 percent in three days. This decline began when the bank's non-executive chairman,
Atanu Chakraborty, abruptly resigned, citing differences over "values and ethics." Significantly, on Monday, shares of the country's largest private bank fell by nearly 5 percent. Let us explain how HDFC Bank investors lost more than 1.5 lakh crore rupees in just three trading days.
Bank shares hit record lows
On Monday, shares of HDFC Bank, the country's largest private lender, fell sharply by 4.70 percent to close at Rs 743.75 on the BSE. During the day, it fell 5 percent to Rs 740.95—its lowest level in 52 weeks.
On the NSE, the stock declined by 4.65 percent to close at Rs 744.15. Following a 11.76 percent decline in the bank's stock over the past three trading days, the company's market valuation has fallen by Rs 1,52,064.22 crore to Rs 11,44,778.71 crore.
Why Arai Shares Plunged
HDFC Bank's non-executive chairman, Atanu Chakraborty, has abruptly resigned, citing differences over "values and ethics." Management at the country's second-largest bank described the grounds as "surprising."
They also said that despite repeated requests, the former bureaucrat did not provide any specific reason or incident for his resignation. Keki Mistry, a veteran member of the HDFC Bank Group, was appointed interim chairman following Chakraborty's resignation.
He stated that while there may have been "some relationship issues" between Chakraborty and the bank's executive leadership, he did not see any "concrete" reason or concern behind the resignation. Mistry stressed that the bank's operations and governance remained stable.
What was written in the resignation?
This is the first time a part-time chairman of HDFC Bank has resigned midway before the completion of his term, raising concerns about the bank's functioning. In his resignation letter dated March 17, he stated,
"Over the past two years, I have observed certain incidents and practices within the bank that are inconsistent with my personal values and ethics. This is the basis for my above decision."
In a letter addressed to H.K. Bhanwala, Chairman of the Governance, Nomination and Remuneration Committee (NRC), Chakraborty stated, "There are no other significant reasons for my resignation other than the reasons stated above."
In a filing late Wednesday evening, HDFC Bank stated that Chakraborty has resigned as the bank's part-time chairman and independent director with immediate effect, effective March 18, 2026.
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