** Shares of HDFC Bank HDBK.NS fall 1.4% to 787.25 rupees

** HDFC, India's top private lender and the heaviest weighted stock in the benchmark indexes, recoups some losses from a ~9% drop on Thursday as the central bank's clean chit and lenders clarification reassured investors after part-time chair's abrupt exit

LOW RISK, NEAR-TERM OVERHANG

** Jefferies ("Buy", PT:1,240 rupees) says HDBK's chairman change poses no corporate‑governance risk as management continuity and RBI's clean chit, and attractive valuations keeping the story intact

** Investec ("Buy", PT: 1,030 rupees) says RBI's reassurance helps, but leadership uncertainty and potential growth impact mean the stock is unlikely to outperform despite attractive valuations

** Nomura says ("Buy", PT: 1,080 rupees) says the lack of clarity on the trigger for resignation, along with emerging leadership transition uncertainty, including CEO re-appointment in Oct'26 could remain a near-term overhang for the stock

** Emkay ("Buy", PT: 1,225 rupees) says HDBK needs to rebuild leadership strength and soon clarify on the current MD's term extension beyond October 2026, along with the appointment of a credible long-tenure chairman

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))