0712 GMT - The abrupt exit of HDFC Bank's chairman creates a near-term overhang for the stock, say Citi analysts in a note. The chair's resignation letter was strongly worded, say the analysts, but they note that the lender has emphasized that it faces no known operational and governance issues and that its governance architecture remains intact. This resignation could raise investors' focus on continuity and organization restructuring. "Until clarity improves, this episode is likely to weigh as a near‑term overhang, notwithstanding our expectation that operating metrics continue to trend positively over the medium-term," they add. Citi retains its buy rating and 1,200 Indian rupee target price. Shares are down 3.55% at 813.00 rupees. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 19, 2026 03:12 ET (07:12 GMT)

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