HDFC Bank shares were trading at ₹746.50 on the NSE on Monday, down 0.59 per cent from the previous close of ₹750.90, with an opening tick of ₹759 before sellers pushed the price lower. Total traded value crossed ₹567 crore in early trade, with more shares on the sell side — 52 per cent sell orders versus 48 per cent buy.
The stock is under pressure despite a provisional business update filed on April 4, which showed deposit growth of 14.4 per cent year-on-year to ₹31,055 billion as of March 31, 2026 — a result JM Financial described as above its estimates. Gross advances grew 12 per cent year-on-year to ₹29,600 billion, while the credit-deposit ratio improved sequentially to 95.3 per cent from 99.5 per cent in December 2025, a metric the market has been closely watching.
The broader context weighs on the share. At ₹746.50, the stock sits just above its 52-week low of ₹726.65 hit on April 2, and is down about 30 per cent in calendar year 2026. JM Financial, in a sector note also dated today, pegged HDFC Bank’s 12-month forward price-to-book at 1.5x — roughly 40 per cent below its historical cross-cycle average of 2.5x — citing the resignation of the chairman, elevated funding costs, and near-term margin pressure. The brokerage cut its target price to ₹850 from ₹1,050 and maintained an ADD rating.
Average CASA deposits for the March quarter grew 10.8 per cent year-on-year to ₹9,184 billion, while period-end CASA crossed ₹10,605 billion, up 12.3 per cent. Time deposits at period-end rose 15.5 per cent to ₹20,450 billion. The bank noted that the figures are provisional and subject to statutory audit.
The Symbol P/E stands at 15.16. Annualised volatility is 23.88 per cent, with a daily volatility of 1.25 per cent. The bank’s total market capitalisation is approximately ₹11.51 lakh crore.