# HDBFS (HDBFS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/hdbfs

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹699.6
- Change: +2.66%
- As of: 2026-09-18
- 1D return: +2.49%
- 5D return: +3.05%
- 1M return: +0.87%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, HDBFS is trading at ₹698.4. The stock exhibits a mixed technical stance across timeframes. Daily indicators suggest a weakening trend, with the price below the Supertrend and moving averages showing downward slopes. However, weekly and monthly timeframes indicate a bullish trend, with prices above the Supertrend and some moving averages. The nearest support is observed at ₹697.42, approximately 0.14% below the current price, followed by ₹689.43. Resistance is noted at ₹706.13, about 1.11% higher, with further levels at ₹745.38 and ₹763.81.

Recent market activity shows a slight increase in positive attention events over the last 30 days, alongside a moderate upward anomaly on the daily chart on September 18, 2026, characterized by a wide intraday range and a positive return. The stock has experienced a current drawdown of -19% and an annualized volatility of 25%. Active bullish patterns like a Bullish Engulfing Reversal and an Inside Bar were noted on the monthly chart on September 18, 2026, while a weekly Outside Bar was also active on the same date.

Key watch conditions include monitoring the price action around the ₹697.42 support level. A sustained move above the ₹706.13 resistance could signal strengthening momentum, while a break below the ₹697.42 support may indicate further downside. The divergence between daily and longer-term timeframes suggests potential for consolidation or a shift in trend depending on future price movements.

- Nearest support level at ₹697.42 (0.14% below current price).
- Nearest resistance level at ₹706.13 (1.11% above current price).
- Daily timeframe shows bearish signals (price below Supertrend), while weekly and monthly timeframes are bullish (price above Supertrend).
- Current drawdown stands at -19% with annualized volatility at 25%.
- Watch for price movement relative to ₹697.42 support and ₹706.13 resistance for trend confirmation.

- Bullish Engulfing Reversal
- Inside Bar
- Outside Bar
- Bearish Engulfing Reversal
- Hammer

### News Context

The National Stock Exchange (NSE) is preparing for its Initial Public Offering (IPO), which is poised to be a significant event in India's primary market. The IPO is valued at ₹22,561.57 crore, making it the second-largest issue in India's history, behind Hyundai Motor India. The exchange has already secured ₹6,746.18 crore from 189 anchor investors prior to its public opening, a figure that ranks second highest historically for anchor investor participation. This landmark listing is anticipated to draw substantial activity away from India's unlisted share market, which has seen considerable growth, partly fueled by the long-anticipated NSE listing itself. Reports suggest the NSE accounted for approximately half of the trading volume in this shadow market, and its public debut could lead to a sharp reduction in such activities, prompting platforms facilitating these trades to seek new investment avenues. The IPO price band has been set between ₹1,700 and ₹1,785, which is noted as being below earlier expectations in the unlisted market, potentially presenting a reality check for investors who acquired shares at higher pre-IPO prices. While the NSE's market position and fundamentals are seen as supportive of demand, experts caution about the inherent liquidity and valuation risks associated with unlisted shares.

- NSE's IPO is set at ₹22,561.57 crore, making it India's second-largest issue, with ₹6,746.18 crore raised from 189 anchor investors as of September 17, 2026.
- The IPO price band of ₹1,700-₹1,785 was announced on September 15, 2026, noted as below prior unlisted market expectations.
- The NSE's listing is expected to significantly impact India's unlisted share market, potentially reducing its trading volume, as reported on September 15, 2026.
- Experts caution that unlisted shares carry liquidity and valuation risks, with pre-IPO prices sometimes reflecting scarcity rather than fair value, according to reports on September 15, 2026.

- NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors
- Is unlisted investing a lottery? The story of a NSE investor who bought shares at Rs 1,827
- Landmark NSE IPO threatens to hollow out India's unlisted share market
- Landmark NSE IPO threatens to hollow out India shadow market
- NSE IPO threatens to hollow out India’s unlisted shadow market

### What Changed

As of September 18, 2026, HDB Financial Services (HDBFS) is listed on the NSE. Recent news highlights the National Stock Exchange's (NSE) significant Initial Public Offering (IPO), which ranks as India's second-largest at ₹22,561.57 crore. This IPO attracted 189 anchor investors, raising ₹6,746.18 crore before public subscription, positioning it as the second-highest in historical anchor investor comparisons. The company's stock price has seen a slight increase, moving from ₹681.45 to ₹698.40 between the previous observation and September 18, 2026.

- NSE IPO ranks as India's second-largest at ₹22,561.57 crore as of September 18, 2026.
- NSE attracted 189 anchor investors, raising ₹6,746.18 crore.
- HDBFS stock price increased from ₹681.45 to ₹698.40.
- Observation date for the latest price is September 18, 2026.

- NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors

### Official Filings

HDB Financial Services Limited has recently disclosed its asset and liability management statements for August 2026, indicating a positive cumulative mismatch of ₹4,84,570 lakh in structural liquidity over a 5+ year horizon. However, the interest rate sensitivity statement shows a negative cumulative mismatch of ₹25,81,165 lakh for the same period. The company also completed the allotment of 20,000 Secured Redeemable Non-Convertible Debentures (NCDs) on September 9, 2026, aggregating ₹20,18,17,01,644. These NCDs carry an 8.05% coupon rate, mature on August 8, 2029, and are secured by a charge over present and future receivables with a minimum asset cover of 1.1 times. Earlier, on September 4, 2026, the company confirmed the redemption of several series of commercial papers, totaling ₹75,000 lakh. Additionally, CARE Ratings reaffirmed the company's credit ratings on September 4, 2026, covering a Commercial Paper program of up to ₹5,000 crore and long-term instruments including NCDs, Perpetual Debt, and Subordinate Debt.

- On September 9, 2026, HDB Financial Services allotted ₹20,18,17,01,644 in Secured Redeemable Non-Convertible Debentures maturing on August 8, 2029.
- The company reported a positive cumulative structural liquidity mismatch of ₹4,84,570 lakh and a negative cumulative interest rate sensitivity mismatch of ₹25,81,165 lakh for August 2026.
- On September 4, 2026, HDB Financial Services confirmed the redemption of commercial paper securities totaling ₹75,000 lakh.
- CARE Ratings reaffirmed credit ratings on September 4, 2026, for Commercial Paper programs and long-term instruments, including NCDs, Perpetual Debt, and Subordinate Debt.

- Asset/Liability management Statement |SUBJECT: Asset/Liability management Statement
- HDB Financial Services Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
- HDB Financial Services Limited has informed the Exchange regarding allotment of 20000 securities pursuant to Non Convertible Securities at its meeting held on September 09, 2026 |SUBJECT: Allotment of Securities
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Board Meeting Intimation |Meeting Date: 09-Sep-2026
- HDB FINANCIAL SERVICES LTD has informed the Exchange about Board Meeting to be held on 09-Sep-2026 to consider Fund raising. |SUBJECT: Board Meeting Intimation
- Credit rating |SUBJECT: Credit rating
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Record Date Updates |SUBJECT: Record Date Updates

### Fundamentals

HDB Financial Services reported a sequential increase in revenue for the first quarter of FY2026-27, reaching ₹4,937.90 crore, up from ₹4,745.41 crore in the prior quarter (Q4 FY2025-26). This growth was accompanied by a rise in Profit Before Tax to ₹1,055.09 crore and Net Profit to ₹785.19 crore in Q1 FY2026-27. The company's financing margin was reported at 22.0% for Q1 FY2026-27, consistent with the previous quarter's 22.0% in Q4 FY2025-26.

Looking at the balance sheet, Borrowings have shown a consistent upward trend, increasing from ₹54,865 crore in March 2023 to ₹74,331 crore in March 2024, and are projected to reach ₹99,230 crore by March 2026. Equity Capital has also seen a modest increase, from ₹791 crore in March 2023 to ₹793 crore in March 2024, with projections indicating ₹830 crore by March 2026. The company's Reserves have grown from ₹10,646 crore in March 2023 to ₹12,950 crore in March 2024, with further growth anticipated to ₹19,834 crore by March 2026.

Key areas to monitor include the company's increasing borrowing levels against its equity and reserves, and the trend in its Gross and Net Non-Performing Assets (NPA) percentages, which were 2.1% and 0.9% respectively in September 2024.

- Revenue from operations for Q1 FY2026-27 was ₹4,937.90 crore, a sequential increase from ₹4,745.41 crore in Q4 FY2025-26.
- Net Profit for Q1 FY2026-27 was ₹785.19 crore, up from ₹750.69 crore in Q4 FY2025-26.
- Financing Margin % stood at 22.0% for Q1 FY2026-27, consistent with the 22.0% reported for Q4 FY2025-26.
- Borrowings increased to ₹74,331 crore in March 2024 and are projected to reach ₹99,230 crore by March 2026.
- Reserves grew to ₹12,950 crore in March 2024 and are projected to reach ₹19,834 crore by March 2026.

### Bull Case

The company has demonstrated consistent growth in its top line, with a compounded sales growth of 11% over the last five years and 12% on a trailing twelve months (TTM) basis. Profitability has also seen significant expansion, with a compounded profit growth of 45% over five years and 28% TTM. The balance sheet shows an increase in total assets from ₹108,663 crore in March 2025 to ₹123,651 crore in March 2026, driven by growth in investments and other assets. Reserves have also grown from ₹15,024 crore to ₹19,834 crore over the same period. On a technical front, the weekly trend indicates a bullish SuperTrend direction, suggesting positive momentum over a longer timeframe.

- Compounded sales growth stands at 11% over 5 years and 12% TTM.
- Compounded profit growth is 45% over 5 years and 28% TTM.
- Total assets are projected to increase from ₹108,663 crore (Mar 2025) to ₹123,651 crore (Mar 2026).
- Reserves are projected to grow from ₹15,024 crore (Mar 2025) to ₹19,834 crore (Mar 2026).
- The weekly trend shows a bullish SuperTrend direction as of September 18, 2026.

- NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors
- Is unlisted investing a lottery? The story of a NSE investor who bought shares at Rs 1,827
- Landmark NSE IPO threatens to hollow out India's unlisted share market
- Landmark NSE IPO threatens to hollow out India shadow market
- NSE IPO threatens to hollow out India’s unlisted shadow market

### Bear Case

The company's cash flow from operations has been negative for the projected periods of March 2025 (₹-13,626.0) and March 2026 (₹-8,606.0). This trend extends to free cash flow, which was also negative in both periods (₹-13,834.0 for March 2025 and ₹-8,747.0 for March 2026). While cash from financing activities has been positive, the negative operating and free cash flows indicate a reliance on external funding to cover operational expenses and investments. The company's borrowing has increased from ₹89,682 in March 2025 to a projected ₹99,230 in March 2026, suggesting a growing debt burden.

- Operating cash flow was negative for the projected periods: ₹-13,626.0 in Mar 2025 and ₹-8,606.0 in Mar 2026.
- Free cash flow was negative for the projected periods: ₹-13,834.0 in Mar 2025 and ₹-8,747.0 in Mar 2026.
- Borrowings increased from ₹89,682 in Mar 2025 to a projected ₹99,230 in Mar 2026.

- NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors
- Is unlisted investing a lottery? The story of a NSE investor who bought shares at Rs 1,827
- Landmark NSE IPO threatens to hollow out India's unlisted share market
- Landmark NSE IPO threatens to hollow out India shadow market
- NSE IPO threatens to hollow out India’s unlisted shadow market

### FAQs

**How has HDB Financial Services' borrowing and equity capital changed between March 2025 and March 2026?**

Between March 2025 and March 2026, HDB Financial Services' borrowing increased from ₹89,682 lakh to ₹99,230 lakh. Over the same period, its equity capital saw a smaller increase from ₹796 lakh to ₹830 lakh.

**What were HDB Financial Services' cash flow activities for the periods ending March 2025 and March 2026?**

For the periods ending March 2025 and March 2026, HDB Financial Services reported negative cash flow from operating activities of ₹13,626 lakh and ₹8,606 lakh, respectively. Cash from financing activities was ₹12,770 lakh in March 2025 and ₹10,673 lakh in March 2026. Cash from investing activities was ₹1,159 lakh in March 2025 and decreased to ₹-1,772 lakh in March 2026. Consequently, free cash flow was negative in both periods, at ₹-13,834 lakh for March 2025 and ₹-8,747 lakh for March 2026.

**What is HDB Financial Services' recent performance in terms of compounded sales and profit growth?**

HDB Financial Services has demonstrated compounded sales growth of 11% over 5 years and 12% on a trailing twelve months (TTM) basis. Profit growth has been stronger, with a 5-year compounded profit growth of 45% and 28% on a TTM basis.

**What recent debt issuance has HDB Financial Services undertaken?**

On September 9, 2026, HDB Financial Services' Debenture Allotment Committee allotted 20,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total value of this allotment was ₹20,181.70 crore, including premium and accrued interest. These NCDs have a tenure of 1,064 days, maturing on August 8, 2029, with a coupon rate of 8.0500%.

**What is the current technical trend for HDB Financial Services based on daily and weekly indicators as of September 18, 2026?**

As of September 18, 2026, the daily trend for HDB Financial Services shows a bearish SuperTrend direction with a value of 710.55. However, the weekly trend indicates a bullish SuperTrend direction at 628.39. The daily Exponential Moving Average (EMA) 20 slope is negative (-1.65), while the weekly EMA 20 slope is also negative (-3.16).

- NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors
- Is unlisted investing a lottery? The story of a NSE investor who bought shares at Rs 1,827
- Landmark NSE IPO threatens to hollow out India's unlisted share market
- Landmark NSE IPO threatens to hollow out India shadow market
- NSE IPO threatens to hollow out India’s unlisted shadow market
- Asset/Liability management Statement |SUBJECT: Asset/Liability management Statement
- HDB Financial Services Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
- HDB Financial Services Limited has informed the Exchange regarding allotment of 20000 securities pursuant to Non Convertible Securities at its meeting held on September 09, 2026 |SUBJECT: Allotment of Securities
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Board Meeting Intimation |Meeting Date: 09-Sep-2026
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹680.72
- Risk regime: Price Risk Requires Attention

### Support levels
- 679.85625
- 670.25
- 613.2

### Resistance levels
- 745.3812499999999
- 763.8078125
- 779.2

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.49% |
| return_10 | +0.71% |
| return_1m | +0.04% |
| return_1y | -11.72% |
| return_20 | +0.87% |
| return_3m | +0.42% |
| return_5 | +3.05% |
| return_6m | +6.60% |
| return_since_start | -16.95% |
| return_ytd | -8.59% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -35.19% |
| annualized_volatility | +24.92% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Profit Rises 44% as Revenue Outpaces Expenses

For the first quarter of FY2026‑27 ended 30 June 2026, HDB Financial Services reported revenue of ₹4,937.90 crore, an increase of 10.6% from the same quarter a year ago. Total expenses grew by only 4.0%, pushing profit before tax to ₹1,055.09 crore—a 44.0% year‑on‑year gain. Net profit rose to ₹785.19 crore. The quarter’s improvement reflected interest income growth that comfortably exceeded the rise in financing costs, while credit impairment charges increased modestly.

## Revenue Driven by Interest Income

Revenue from operations reached ₹4,937.90 crore, up 10.6% from Q1 FY2025‑26 and 4.1% from the preceding March quarter. Interest earned was the primary contributor at ₹4,262.05 crore, rising 11.2% year‑on‑year and 4.4% sequentially. Non‑interest revenue, which includes fees, BPO services and insurance distribution, came to ₹675.85 crore, compared with ₹633.92 crore in the prior‑year quarter.

## Expense Growth and Composition

Total expenses amounted to ₹3,882.81 crore, up 4.0% from both the March quarter and the same quarter last year. The main components were:

- **Finance costs:** ₹1,753.26 crore, a year‑on‑year increase of only 0.8% (up 4.2% sequentially).
- **Impairment on financial instruments (credit provisions):** ₹697.10 crore, rising 4.1% from a year earlier and 1.8% from the prior quarter.
- **Employee benefit expenses:** ₹1,035.42 crore.
- **Other expenses:** ₹342.23 crore, virtually unchanged from the prior quarter.

Revenue growth of 10.6% was more than two‑and‑a‑half times the 4.0% rise in total expenses. Finance costs were nearly flat year‑on‑year while interest earned grew 11.2%, widening the gap between the two and boosting net interest income. Credit provisions increased at a pace well below revenue growth.

## Profitability Improvement

Profit before tax rose to ₹1,055.09 crore, a year‑on‑year jump of 44.0% (sequentially up 4.3%). After tax, net profit was ₹785.19 crore, 38.3% higher than a year earlier and 4.6% above the March quarter. The effective tax rate for the quarter was approximately 25.6%, in line with recent periods.

The ratio of impairment charges to interest earned declined from 17.5% in Q1 FY2025‑26 to 16.4% in the current quarter, further supporting profitability.

## Capital Position

Paid‑up equity share capital stood at ₹830.38 crore, essentially unchanged from the preceding quarter, indicating no new equity issuance during the period.

## Key Takeaway

HDB Financial Services recorded a sharp rise in quarterly profit, underpinned by revenue growth that far outpaced the increase in expenses. Interest income maintained strong momentum while financing costs barely budged, and credit impairment grew only moderately. The result continues a trend of sequentially improving profitability observed over the past several quarters.

### Ratios

## Official filings

- 2026-09-11 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_11092026215613_Letter_for_ALM_for_NSE-August_2026-sd.pdf)
- 2026-09-09 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_24797_WebXMLFile_20260909_135755504.xml)
- 2026-09-09 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDB_09092026135407_Intimation_under_Regulation_30_-_Allotment_of_NCDs.pdf)
- 2026-09-04 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_04092026160058_CP_Redemption_NSE_Intimation__INE756I14GI5_sd.pdf)
- 2026-09-04 — Board Meeting Notice: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_24797_WebXMLFile_20260904_175029258.xml)
- 2026-09-04 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_24797_WebXMLFile_20260904_175029258.xml)
- 2026-09-04 — Credit Rating Update: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_04092026180714_CARE_04-09-2026_merged_sd.pdf)
- 2026-08-28 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_28082026160151_CP_Redemption_NSE_Intimation__INE756I14GN5_sd.pdf)
- 2026-08-28 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_28082026182242_RD_intimation_CP_sd.pdf)
- 2026-08-28 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_28082026182242_RD_intimation_CP_sd.pdf)
- 2026-08-24 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDB_24082026162250_Intimation_-_ESOP_Allotment_Sd.pdf)
- 2026-08-24 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_24797_WebXMLFile_20260824_162517194.xml)
- 2026-08-20 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24797_WebXMLFile_20260820_125316260.xml)
- 2026-08-20 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDBF_20082026125112_Intimation_under_Regulation_30_-_Analyst_Investor_Meet.pdf)
- 2026-08-14 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDBF_14082026150043_Intimation_under_Regulation_30_-_Analyst_Investor_Meet_sd.pdf)
- 2026-08-14 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24797_WebXMLFile_20260814_150919067.xml)
- 2026-08-14 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24797_WebXMLFile_20260814_150636774.xml)
- 2026-08-14 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24797_WebXMLFile_20260814_150435105.xml)
- 2026-08-12 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_12082026204536_ALM_Intimation_July_2026sd.pdf)
- 2026-08-07 — Credit Rating Update: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_07082026180111_CARE_letter_August_2026_sd.pdf)
- 2026-08-06 — Generic Announcement: On August 6, 2026, HDB Financial Services Limited allotted 54,450 Secured Redeemable Non-Convertible Debentures with a face value of Rs. 1,00,000 each, totaling Rs. 5,44,50,00,000. These debentures have a tenure of 1064 days, mature on July 5, 2029, and carry an interest rate of 8.2301%. The allotment was made on a private placement basis and the debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. A first and exclusive charge by way of hypothecation over present and future receivables has been created as security. — [Official attachment](https://nsearchives.nseindia.com/corporate/HDBF_06082026121418_Intimation_under_Regulation_30_-_Allotment_of_NCDs_Signed.pdf)
- 2026-08-06 — Generic Announcement: HDB Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_24797_WebXMLFile_20260806_121643371.xml)
- 2026-08-05 — Generic Announcement: HDB Financial Services Ltd — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDBFSL_05082026164348_CP_Redemption_NSE_Intimation__INE756I14GK1sd.pdf)
- 2026-08-04 — Official Filing: HDB Financial Services Limited has announced its schedule for investor meetings. The company will participate in the Emkay Confluence 2026 on August 12, 2026, the Equirus Annual India Conference 2026 on August 13, 2026, and the Motilal Oswal 22nd Annual Global Investor Conference 2026 on August 18, 2026.
- 2026-08-04 — Generic Announcement: HDB Financial Services Limited will hold investor meetings on August 12, 13, and 18, 2026. These meetings are part of the Emkay Confluence 2026, Equirus Annual India Conference 2026, and Motilal Oswal 22nd Annual Global Investor Conference 2026, respectively. The schedule may change due to exigencies. — [Official attachment](https://nsearchives.nseindia.com/corporate/HDBF_04082026153207_Intimation.pdf)

## News and market events

- 2026-09-17 — Economic Times: **NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors** — NSEs Rs 22,561.57 crore IPO ranks as Indias second-largest, behind Hyundai Motor India. The exchange attracted 189 anchor investors and raised Rs 6,746.18 crore before opening for public subscription, making it the second-highest in the historical anchor investor comparison. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/nse-enters-indias-mega-ipo-club-2nd-largest-issue-2nd-highest-anchor-count-with-189-investors/articleshow/134312636.cms)
- 2026-09-15 — Economic Times: **Is unlisted investing a lottery? The story of a NSE investor who bought shares at Rs 1,827** — NSEs IPO price band of Rs 1,700-1,785 is below earlier unlisted-market expectations, offering a reality check for investors who bought the exchanges shares at higher prices. While NSEs dominant market position and strong fundamentals could support demand, experts caution that unlisted shares carry liquidity and valuation risks, with pre-IPO prices often reflecting scarcity and expectations rather than fair value. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/is-unlisted-investing-a-lottery-the-story-of-a-nse-investor-who-bought-shares-at-rs-1827/articleshow/134254181.cms)
- 2026-09-15 — BUSINESS: **Landmark NSE IPO threatens to hollow out India's unlisted share market** — The operator of the world's busiest derivatives market accounted for roughly half of the trading volume in the shadow market, according to an estimate by trading platform UnlistedZone — [Source](https://www.business-standard.com/markets/news/landmark-nse-ipo-threatens-to-hollow-out-india-s-unlisted-share-market-126091500111_1.html)
- 2026-09-15 — Economic Times: **Landmark NSE IPO threatens to hollow out India shadow market** — The National Stock Exchange's upcoming IPO will significantly boost India's primary market. This listing is expected to cause a major decline in the booming unlisted shares trade. Platforms facilitating these transactions must now find new investment opportunities. Wealthy individuals and funds previously bet on companies in the listing pipeline. The unlisted market saw growth with companies like Sterlite Electric and Garuda Aerospace. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/landmark-nse-ipo-threatens-to-hollow-out-india-shadow-market/articleshow/134250443.cms)
- 2026-09-15 — The Hindu: **NSE IPO threatens to hollow out India’s unlisted shadow market** — The exchange accounts for roughly half of unlisted-market trading, and its public debut could sharply reduce activity in a market that has flourished on its long-delayed listing. — [Source](https://www.thehindubusinessline.com/markets/nse-ipo-threatens-to-hollow-out-indias-unlisted-shadow-market/article71466594.ece)
- 2026-09-15 — Mint: **Landmark NSE IPO Threatens to Hollow Out India Shadow Market** — The landmark listing of National Stock Exchange of India Ltd. is set to deliver a major boost to the country’s primary market, but it will be a significant blow to the booming trade in unlisted shares. — [Source](https://www.livemint.com/market/ipo/landmark-nse-ipo-threatens-to-hollow-out-india-shadow-market-11789437539366.html)
- 2026-08-31 — BUSINESSTODAY: **Bajaj Finance, HDB Financial, SHFL: 3 stocks to buy for up to 31% upside** — Bajaj Finance share price, HDB Finacnial share pricre, SHFL hare price, stocks to buy, NBFC stocks,Bajaj Finance stock price, SHFL stock price — [Source](https://www.businesstoday.in/markets/stocks/story/bajaj-finance-hdb-financial-shfl-3-stocks-to-buy-for-up-to-31-upside-552209-2026-08-31)
- 2026-08-27 — BUSINESSTODAY: **HDB Financial shares: After visiting Varanasi, broker gave 31% upside target; here's why** — HDB Financial shares, HDB Financial share price today, HDBFS shares,HDBFS share price, HDBFS news, HDB Financial news, HDB Financial target price — [Source](https://www.businesstoday.in/markets/stocks/story/hdb-financial-shares-after-visiting-varanasi-broker-gave-31-upside-target-heres-why-551775-2026-08-27)
- 2026-08-17 — Economic Times: **Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 23%** — There are currently too many variables that can move the markets in either direction. Oil prices may have settled into a range for now, but there is still no clarity on how the Gulf situation will develop. If uncertainty continues, oil prices may remain elevated. In such a scenario, it is probably best to be cautious; but be nimble enough to respond as things change. Our selected stocks for today depict a strong upward trajectory in their overall average score which is based on five key pillars:... — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stock-picks-of-the-week-5-stocks-with-consistent-score-improvement-and-upside-potential-of-up-to-23/articleshow/133290598.cms)
- 2026-07-23 — The Hindu: **Sensex today | Stock Market Live: Sensex falls 400 pts, Nifty slips to 23,800 in volatile trade; IndusInd Bank down 6%** — Sensex, Nifty, Share Prices LIVE: At 12:44 pm, Sensex traded 423.71  points or -0.55% lower at 76,331.34, while Nifty slipped 139.50 points (-0.58%) to 23,856.75. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-23-july-2026/article71253376.ece)
- 2026-07-21 — Mint: **SBI Funds prove big debuts can beat bad market days** — A Mint analysis of India's 20 largest IPOs shows market sentiment often shapes listing-day performance, though strong institutional demand can cushion even volatile market debuts. — [Source](https://www.livemint.com/market/stock-market-news/sbi-funds-management-ipo-sbi-funds-listing-ipo-listing-gains-ipo-listing-day-performance-largest-ipos-in-india-11784550778215.html)
- 2026-07-20 — Economic Times: **History test! What last 12 billion-dollar IPO listing gains indicate about SBI Funds' Rs 9,813 crore debut** — SBI Funds Management is set to debut on the stock market on Tuesday, with an estimated 18% listing gain based on the current grey market premium. While its blockbuster subscription has raised expectations, history shows billion-dollar IPOs have delivered mixed outcomes. Winners like Eternal and ICICI Prudential AMC contrast with weak debuts by LIC, Paytm and Hyundai Motor India. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/history-test-what-last-12-billion-dollar-ipo-listing-gains-indicate-about-sbi-mfs-rs-9813-crore-debut/articleshow/132508740.cms)
- 2026-07-20 — The Hindu: **Sensex today | Stock Market Live: Stock to buy today: Colgate Palmolive (India) (₹2,041.95)** — Sensex, Nifty, Share Prices Live Updates: The stock of Colgate Palmolive (India), although in a long-term downtrend, shows signs of a recovery, at least for the short-term. In April, it started the recovery on the back of the base at ₹1,780. Following this, the price action since June, shows that the scrip has formed a higher base at ₹1,975. Although there is a resistance ahead at ₹2,100, we expect this to be invalidated. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-20th-july-2026/article71241122.ece)
- 2026-07-17 — The Hindu: **Sensex today | Stock Market Live: Sensex jumps over 800 points, Nifty tops 24,280 as IT stocks rally** — Sensex, Nifty, Share Prices LIVE: Indian equities rallied on Friday, with IT stocks lifting the Sensex over 800 points and the Nifty above 24,280 as investors awaited earnings from Reliance Industries, HDFC Bank and ICICI Bank for fresh market direction. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-17th-july-2026/article71229818.ece)
- 2026-07-17 — Mint: **HDFC Bank share price jumps over 1% ahead of Q1 results 2026 tomorrow, 18 July: What brokerages expect?** — HDFC Bank shares rose over 1% ahead of its Q1 FY27 earnings announcement. Brokerages predict mixed results with flat net interest margins but strong loan growth, and stable asset quality supporting overall performance. — [Source](https://www.livemint.com/market/stock-market-news/hdfc-bank-share-price-jumps-over-1-ahead-of-q1-results-2026-tomorrow-18-july-what-brokerages-expect-11784265781874.html)
- 2026-07-16 — Economic Times: **Cellecor Gadgets aims to achieve ₹5,000-crore revenue in three years: Ravi Agarwal** — Cellecor Gadgets is aiming for ₹5,000 crore revenue within three years. Consumer appliances and smart TVs offer significant long-term growth opportunities. The company is investing in a manufacturing unit in Liberia, West Africa. Its offline distribution network contributes over ninety per cent of total revenue. — [Source](https://economictimes.indiatimes.com/industry/cons-products/electronics/cellecor-gadgets-aims-to-achieve-5000-crore-revenue-in-three-years-ravi-agarwal/articleshow/132437620.cms)
- 2026-07-16 — Mint: **HDB Financial shares jump almost 5%, pare gains quickly; is it a stock to buy after Q1 results?** — HDB Financial share price jumped 4.6% in early deals to hit the day's high of  ₹786.20 on the BSE but quickly erased gains, dropping 0.50% to an intraday low of  ₹748.50. — [Source](https://www.livemint.com/market/stock-market-news/hdb-financial-shares-jump-almost-5-pare-gains-quickly-is-it-a-stock-to-buy-after-q1-results-11784176506700.html)
- 2026-07-16 — The Hindu: **Q1 Results Today Live: Wipro, Jio Financial, Tech Mahindra, Polycab, BHEL, ITC Hotels, CEAT, WeWork India to announce Q1 results, Union Bank, Groww, HDBFS, HDFC AMC, HDFC Life, ICICI Pru Life, ICICI Lombard, Angel One shares in focus** — Q1 Results Today, 16th July 2026 Live Updates: Catch live updates — [Source](https://www.thehindubusinessline.com/markets/q1-results-today-live-updates-wipro-jio-financial-tech-mahindra-polycab-india-bhel-piramal-finance-itc-hotels-ceat-wework-hdbfs-groww-icici-pru-hdfc-results-16-july-2026/article71225300.ece)
- 2026-07-16 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: GIFT Nifty trades higher; Groww shares in focus** — Sensex Today | Stock Market LIVE Updates: The bulls have managed to defend 24,000 through the week and would aim to continue doing so, even as 24,250 - 24,350 levels have become a major supply zone. The Nifty Bank too, after the initial outperformance, could not sustain above 58,000. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-expiry-hdb-fin-bhel-polycab-banks-itc-newgen-angel-one-share-price-liveblog-19946586.htm)

## Business profile

**Strategic vision:** Diversified retail-focused non-banking financial company offering lending and BPO services.

### Business segments
- **Lending:** Offers a comprehensive portfolio of lending products across enterprise, asset, and consumer finance verticals.
- **Business Process Outsourcing (BPO) Services:** Provides back-office and front-office support services, including forms processing, document verification, contact center management, and collection services.
- **Fee-Based Products Distribution:** Distributes fee-based products such as life and general insurance, primarily to its lending customers.

### Competitive strengths
- Accredited with CARE AAA and CRISIL AAA ratings for long-term debt and bank facilities.
- Holds an A1+ rating for short-term debt and commercial papers.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/hdbfs
Markdown representation: https://faxioms.com/stocks/hdbfs?render=md