A rare phenomenon hits HDFC Bank’s ADR after Atanu Chakraborty’s exit

It is rare to see the US-listed shares of HDFC Bank trade at a discount to their underlying Indian shares. The bank’s American Depositary Receipts (ADR) to lose their premium over the local shares for the first time since May 2022, after the resignation of Atanu Chakraborty as part-time Chairman of the bank.