New Delhi, Sept. 1 -- HDFC Bank share price hit 52-week low of Rs.704.15 per share after opening higher on Monday. The private lender stock initially rose over 2.5%; however, it pared its gains in the second half of the trading session, falling as much as 5% from its intraday high.

The banking stock closed at Rs.709, as compared to the opening price of Rs.723.05 per share on Monday.

The volatility in the banking stock came after MD and CEO Sashidhar Jagdishan announced that he would not seek re-appointment for another term after his current tenure ends on October 26, 2026.

According to a regulatory filing by HDFC Bank, Sashidhar Jagdishan has decided not to seek another term as the bank's Managing Director and CEO, despite efforts by t...