HDFC Bank share price gains nearly 6% on approval of new CEO

Private lender HDFC Bank's share price rose nearly 6 percent intraday on August 4 on report of RBI approving new CEO.

Reserve Bank of India (RBI) has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the bank for a period of 3  years w.e.f. his date of  taking charge, i.e. October 27, 2020, as per company release.

Currently he is the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate

Communications, Corporate Social Responsibility & the Strategic Change Agent of the bank.

A meeting of the board of directors of the bank will be convened in due course to approve the appointment of Mr. Sashidhar Jagdishan as the Managing Director & CEO of the bank, in place of Mr. Aditya Puri, who is due to retire as Managing Director of the Bank on October 26, 2020.

At 11:54 hrs HDFC Bank was quoting at Rs 1,043.95, up Rs 42.00, or 4.19 percent on the BSE.

The share touched its 52-week high Rs 1,304.10 and 52-week low Rs 738.90 on 19 December, 2019 and 24 March, 2020, respectively.

Currently, it is trading 19.95 percent below its 52-week high and 41.28 percent above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 49.81 per share. (Jun, 2020). The stock's price-to-earnings (P/E) ratio was 20.72.

The latest book value of the company is Rs 311.44 per share. At current value, the price-to-book value of the company was 3.31. The dividend yield of the company was 0.24 percent.