HDFC Bank shares drop 15% in 3 months since Q1 results. Will Q2 earnings bring redemption as leadership cloud clears?

What happened: HDFC Bank shares fell more than 10% over seven sessions after its Q1 results, following a governance cloud tied to former part-time Chairman Atanu Chakraborty's resignation. The bank has since appointed Anup Bagchi as MD and CEO. Key numbers: Shares dropped 15% in three months since Q1 results. Why it matters: Nomura said a credible external appointment could be a catalyst for a re-rating if paired with a clear roadmap on growth, deposits, margins and returns. Analysts see limited downside after the sharp correction, though technical trend remains weak.

HDFC Bank shares fell more than 10% over seven sessions after its Q1 results, following a governance cloud tied to former part-time Chairman Atanu Chakraborty's resignation. The bank has since appointed Anup Bagchi as MD and CEO.

Nomura said a credible external appointment could be a catalyst for a re-rating if paired with a clear roadmap on growth, deposits, margins and returns. Analysts see limited downside after the sharp correction, though technical trend remains weak.