HDFC Bank attracted ₹17,250cr mutual funds buying after chairman resignation
March 2026 was a wild month for HDFC Bank. After its part-time chairman Atanu Chakraborty suddenly resigned over ethical differences, the bank's stock dropped more than 17.5%, its worst run in years.
But while the market panicked, mutual funds actually saw an opportunity and invested a massive ₹17,250 crore into HDFC Bank shares.
ICICI Prudential led ₹5,073cr into HDFC
ICICI Prudential Mutual Fund topped the list with ₹5,073 crore invested, followed by SBI and Nippon India Mutual Funds.
Meanwhile, foreign institutional investors, or FIIs, dropped their stake from 47.67% to 44.05%, but mutual funds stepped up and increased their share for the fifth quarter in a row.
By March's end, 49 mutual funds held nearly 381 crore HDFC Bank shares.
The bank has reassured everyone that operations are smooth despite leadership changes, and local investor interest is only growing.