Indian equity markets witnessed a significant rally for the third consecutive day, with the Sensex jumping 753 points and the Nifty closing above 24,550, as investors reacted positively to falling crude oil prices and renewed hopes for progress in Iran-US
HDFC Bank, India’s largest private-sector lender, announced an 8.04 per cent surge in its March quarter consolidated net profit to Rs 20,350.76 crore, while simultaneously cautioning about the potential impact of the West Asia conflict on its small-business borrowers. Photograph:
Amid escalating global tensions and regulatory shifts, India’s financial markets are witnessing a significant transformation, with bank-backed brokerages poised to reclaim their edge over discount platforms and the IPO pipeline experiencing a notable slowdown. Illustration: Dominic Xavier/Rediff Key Points Bank-backed
Amidst heightened global and domestic uncertainties, six of India’s top ten most valued firms, including Bharti Airtel and HDFC Bank, witnessed a substantial decline in their combined market valuation, highlighting the ongoing volatility in the Indian equities market. Illustration: Dominic
Former HDFC Bank chairman Atanu Chakraborty reveals that his resignation was prompted by concerns over the misselling of AT-1 bonds and the bank’s overall underperformance, shedding light on governance and ethical considerations. IMAGE: Atanu Chakraborty, former non-executive chairman, HDFC Bank.
‘When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns. Key Points HDFC Bank’s non-executive chairman Atanu Chakraborty and CEO Sashidhar Jagdishan were involved in a power struggle according to the
HDFC Bank has initiated a thorough independent review by external law firms to address the ethical concerns raised by its former Chairman, Atanu Chakraborty, whose abrupt resignation has prompted a proactive move to uphold the bank’s stringent governance standards. Photograph:
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report. Photograph: Kind courtesy Openbook10/wikipedia.org/Creative Commons After a tumultuous day, where HDFC Bank’s management and board tried
Atanu Chakraborty’s sudden resignation as HDFC Bank chairman, citing ethical concerns, has triggered leadership changes and raised questions about governance at the country’s second-largest lender. IMAGE: A file photo of Atanu Chakraborty with Finance Minister Nirmala Sitharaman. Photograph: ANI Photo
