The performance of the HDFC Bank share price will be based on the fundamental of the lender, said Macquarie Capital Securities’ Suresh Ganapathy, while adding that Sashidhar Jagdishan needs to focus on compliance issues and digital challenges.

Jagdishan will take the reins from Aditya Puri in October end. The Reserve Bank of India on Tuesday gave its node to his appointment as the CEO of India’s largest private sector bank in terms of market capitalisation.

Macquarie’s Ganapathy further said that Jagdishan executing the current strategy over the next 5 years is not a challenge.

Macquarie's Suresh Ganapathy speaks to CNBC-TV18 about HDFC Bank CEO designate Jagdishan & other issues w.r.t banking sector pic.twitter.com/S26Jc6hdTb

— CNBC-TV18 (@CNBCTV18Live) August 5, 2020

Overall speaking about the sector, Ganapathy said that the banking sector will remain a laggard with regards to recovery. It will underperform in FY21, he added.

Watch the video for the full report

First Published:Aug 5, 2020 12:48 PM IST