HDFC Bank's stock climbed 1.7% on Wednesday, trading at ₹811.70 after shareholders gave the green light to Anup Bagchi as the new managing director and CEO.
The shares bounced back from a recent low, even hitting ₹817.85 during the day, showing renewed optimism around the bank's future.
Analysts see inflows benefiting HDFC Bank
Bagchi's appointment got a huge thumbs-up from shareholders, with 98.646% voting in favor across 1,025,73,77,196 shares.
Market experts like Motilal Oswal named HDFC Bank among its top sector ideas, and Jefferies flagged the bank as a direct beneficiary of returning foreign portfolio investor flows, expecting stronger earnings thanks to better liquidity and more foreign investment coming in.
Even though there might be some profit-taking soon, most signs point to growing confidence in Bagchi leading the way forward.