Who are Deepak Parekh and Paresh Sukthankar? Former HDFC and HDFC Bank execs Prem Watsa is consulting for IDBI Bank deal
HDFC Bank pursued an acquisition.
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Fairfax Financial will acquire a 60.72% stake in IDBI Bank for about ₹53,000 crore, buying shares from the Indian government and LIC. Fairfax plans to retain CEO Rakesh Sharma and is consulting former HDFC leaders Deepak Parekh and Paresh Sukthankar.
The analysis
HDFC Bank reported ₹53,000 crore, with movement of 60.72% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +1.4% on the day at ₹692.80, and has returned -8.1% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -6.0% over the same period, so HDFC Bank is running 2.1 points behind its peers.
For HDFC Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The 3 companies named span 2 sectors, so these are separate company stories rather than one sector-wide move.
- On the day, 2 of 3 are higher: HDFC Bank leads at +1.4% and Life Insurance Corporation trails at -3.2%.
- Over three months: HDFC Bank -8.1% against Banks -6.0% (2.1 points behind); IDBI Bank -4.4% against Banks -6.0% (1.6 points ahead); Life Insurance Corporation -9.4% against Insurance -13.4% (4.0 points ahead).
- At least 25% below the 52-week high: HDFC Bank (31%) and IDBI Bank (31%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| HDFC BankHDFCBANK · Banks | ₹692.80 | +1.4% | -2.2% | -8.1% | -31.4% | 0.7× | — |
| IDBI BankIDBI · Banks | ₹80.32 | +0.4% | -2.3% | -4.4% | -30.8% | 0.5× | — |
| Life Insurance CorporationLICI · Insurance | ₹383.25 | -3.2% | -3.0% | -9.4% | -17.1% | 0.9× | — |
Banks
1M -3.4% · 3M -6.0%
HDFC Bank, IDBI Bank
Insurance
1M -5.4% · 3M -13.4%
Life Insurance Corporation
Financial Services
1M -8.8% · 3M -14.9%
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
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