HDFC Bank Shares Plunge 9%, Rs 1 Lakh Crore Wiped Out; Worst Day Since Covid Crash

• HDFC Bank shares dropped 9% at open, erasing Rs 1 lakh crore in market capitalization.
• This marks the worst single-day fall for the stock since the Covid-19 crash in March 2020.
• The sharp selloff followed the resignation of part-time Chairman Atanu Chakraborty, citing ethical concerns.
• Interim part-time chairman Keki Mistry dismissed internal conflict, stating no material difference with the board.
• The fall in HDFC Bank also dragged down broader markets, with Sensex and Nifty dropping over 2%.