HDFC Bank Share Price Sees Mild Movement After CHRO Resigns, CEO Faces Legal Trouble

Market Performance

HDFC Bank's share price saw a mild dip at the opening bell on Thursday following news of a top-level resignation.

• Opened lower with a 0.35% drop to ₹1,927 on the BSE
• Later, it climbed to a high of ₹1,937.55
• As of 9:35 AM, HDFC Bank shares were trading at ₹1,936.65, reflecting a rise of 0.14%.

The stock has displayed steady growth in the past few months:

• 1-Month: Flat performance
• 3-Month: Up 11%
• Year-To-Date (YTD): Gained 9%
• 1-Year: Increased by 16%
• 3-Year: Delivered 50% returns
• 5-Year: Delivered 87% returns

Main News

On June 18, 2025, HDFC Bank announced the resignation of its Chief Human Resource Officer (CHRO), Vinay Razdan.

According to the official regulatory filing:

• Razdan's resignation is effective from the close of business hours on June 18
• He served nearly seven years with the bank

The bank has formally accepted the resignation.

In a separate legal development, HDFC Bank CEO and Managing Director Sashidhar Jagdishan has approached the Bombay High Court to quash an FIR filed against him.

FIR Overview

The FIR was filed by the Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) earlier in June.

Allegations made in the FIR:

• CEO Sashidhar Jagdishan allegedly accepted a ₹2.05 Crore bribe
• The bribe was allegedly to allow the Chetan Mehta group to maintain control over the trust

HDFC Bank has denied all charges related to the complaint.

Summary of the Article

• HDFC Bank's share price opened with a slight dip but quickly recovered on June 19
• Vinay Razdan, the bank's CHRO, resigned after nearly 7 years of service
• Meanwhile, CEO Sashidhar Jagdishan is battling a legal challenge in Bombay HC
• Despite internal challenges, the stock has shown strong medium to long-term returns