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As of 2026-08-25
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
Trading volume was unusually high, but the closing price did not show a clear directional move.
This indicates increased participation without a clear directional signal.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Trading volume was unusually high, but the closing price did not show a clear directional move.
This indicates increased participation without a clear directional signal.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Income | PEAK₹1,33,110.36 crore | ₹1,16,919.94 crore | ₹1,26,927.27 crore | ₹1,18,560.63 crore | ₹1,33,054.97 crore |
| Operating Expenses | PEAK₹54,488.73 crore | ₹40,587.82 crore | ₹50,524.04 crore | ₹40,879.05 crore | ₹49,183 crore |
| Operating Profit Before Provision And Contingencies | ₹30,996 crore | ₹31,111.68 crore | ₹30,581.81 crore | ₹30,940.72 crore | PEAK₹36,163.46 crore |
| Profit Loss From Ordinary Activities Before Tax | PEAK₹27,193.16 crore | ₹26,948.17 crore | ₹26,961.10 crore | ₹25,905.79 crore | ₹20,849.83 crore |
| Profit Loss For The Period | ₹20,382.69 crore | ₹20,350.76 crore | PEAK₹20,691.04 crore | ₹19,610.67 crore | ₹17,090.43 crore |
| Profit Loss After Taxes Minority Interest And Share Of Profit Loss Of Associates | ₹19,244.71 crore | PEAK₹20,350.76 crore | ₹19,806.63 crore | ₹19,610.67 crore | ₹16,257.91 crore |
HDFC Bank Limited’s quarter ended 30 June 2026 produced a mixed financial result. Total income was nearly unchanged from the same quarter last year, but operating expenses rose significantly. A sharp decline in provisions pushed profit before tax higher, and profit for the period increased even after a substantially higher tax charge. Per-share earnings, however, fell sharply as the higher profit was spread across a larger number of shares.
Total income was ₹1,33,110.36 crore, representing a negligible increase of 0.04% compared to ₹1,33,054.97 crore in the first quarter of the previous fiscal year. The stability in total income masked offsetting movements within its components.
Interest earned increased by 3.67% year-over-year to ₹90,575.33 crore, rising from ₹87,371.87 crore in the prior year quarter. Conversely, other income decreased by 6.89% to ₹42,535.03 crore, down from ₹45,683.10 crore.
On a sequential basis, comparing the current quarter to the immediately preceding quarter (ended 31 March 2026), total income increased by 13.85%, moving from ₹1,16,919.94 crore.
Operating expenses for the quarter totaled ₹54,488.73 crore. This marks a 10.79% increase compared to ₹49,183.00 crore in the same quarter of the previous year. The sequential increase was more pronounced, rising 34.25% from ₹40,587.82 crore in the fourth quarter of the previous fiscal year.
Employee costs contributed to this rise, increasing by 5.00% year-over-year to ₹9,342.49 crore. Because total operating expenses grew faster than employee costs, other operating expense categories also increased. As a result, operating expenses as a percentage of total income widened to 40.94%, up from 36.96% a year earlier.
The relationship between operating performance and final profitability shifted materially. Interest expended was ₹47,625.63 crore, slightly lower than ₹47,708.51 crore a year earlier. With total income flat and interest expended marginally lower, the increase in operating expenses drove operating profit before provisions down 14.29% to ₹30,996 crore from ₹36,163.46 crore.
However, a significant reduction in credit charges reversed this trend. Provisions other than tax and contingencies fell by 75.17% year-over-year, dropping from ₹15,313.63 crore to ₹3,802.84 crore. This reduction effectively neutralized the decline in operating profit; profit from ordinary activities before tax increased by 30.42% to ₹27,193.16 crore.
Tax expense also increased significantly, rising 81.16% year-over-year to ₹6,810.47 crore from ₹3,759.40 crore. Consequently, profit for the period increased by 19.26% to ₹20,382.69 crore.
While profit for the period grew by 19.26% year-over-year, basic earnings per share (EPS) decreased by 41.12% to ₹12.50 per share, down from ₹21.23 per share in the prior year quarter. Diluted EPS followed a similar trajectory, declining 40.96% to ₹12.47 per share.
This divergence occurred alongside an increase in the profit measure most relevant to shareholders. Profit after taxes, minority interest, and share of profit/loss of associates rose to ₹19,244.71 crore from ₹16,257.91 crore. Because this profit base increased while both basic and diluted EPS fell, the per-share results reflect a higher number of shares in the current quarter compared to a year earlier.
In the quarter ended 30 June 2026, HDFC Bank maintained stable total income while facing higher operating costs. A dramatic reduction in credit provisions allowed the bank to grow its pre-tax profit significantly despite weaker operating margins. However, the benefit of higher net profit did not translate into higher earnings per share, which fell substantially compared to the previous year due to a larger share count.
Exchange disclosures and regulatory announcements for HDFC Bank.
HDFC Bank confirmed interest and redemption payments for NCDs (ISIN INE040A08484) with an outstanding issue size of Rs. 1,000 crores. An annual interest payment of Rs. 78,78,35,612 was made on the due date, with the record date being August 8, 2026. The bank also made a full redemption of 1,000 NCDs upon maturity, redeeming Rs. 10,00,00,00,000.
On August 24, 2026, HDFC Bank Limited disclosed independent ESG ratings assigned by ESG Risk Assessments & Insights Limited (73.03) and Crisil ESG Ratings & Analytics Limited (76). The bank clarified that it did not engage these providers for the ratings, which were prepared independently based on publicly available information. This disclosure was made pursuant to Regulation 30 of SEBI Listing Regulations.
HDFC Bank Limited, through its GIFT City Branch, completed the issuance of US$ 1,750 million in Senior Unsecured Bonds on August 20, 2026. The issuance comprised US$ 500 million in 3-year notes with a 5.159% coupon and US$ 1,250 million in 5-year notes with a 5.401% coupon, both settling on August 26, 2026, and maturing on August 26, 2029, and August 26, 2031, respectively. The bonds are rated Baa3 (Stable) by Moody's and BBB (Stable) by S&P, and are listed on India INX and NSE International Exchange.
On August 19, 2026, the Reserve Bank of India granted approval to Life Insurance Corporation of India (LIC) to acquire an aggregate holding of up to 9.99% in HDFC Bank Limited's paid-up share capital or voting rights. As of August 14, 2026, LIC already held a 4.11% stake in the bank. The approval is subject to compliance with the Banking Regulation Act, 1949, RBI Directions issued in 2025, and other applicable statutes.
On August 18 and 19, 2026, CARE Ratings Limited and India Ratings and Research Private Limited respectively assigned or reaffirmed credit ratings for HDFC Bank Limited's Certificate of Deposits. CARE Ratings reaffirmed a rating of A1+ for an enhanced issue size of ₹20,000 crore (increased from ₹15,000 crore), while India Ratings assigned a new rating for an INR 500 billion instrument and affirmed a rating for an INR 1,500 billion instrument.
HDFC Bank Limited has scheduled a virtual Debt Investor Roadshow for institutional investors on August 19, 2026, commencing at 07:30 IST. The group meeting, intended for investor engagement, will involve multiple investors and is coordinated by Josephine Dsouza via the contact details provided.
HDFC Bank Limited scheduled a virtual Debt Investor Roadshow for August 19, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting is designated as an individual or group session and was disclosed via a filing dated August 16, 2026, by Company Secretary Ajay Agarwal. The bank noted that the schedule may be subject to revision due to exigencies, with any changes to be communicated to the stock exchanges.
HDFC Bank Limited confirmed the payment of Rs. 1,58,20,00,000 in interest on August 14, 2026, for its outstanding bonds with ISIN INE040A08740 and an issue size of Rs. 2,000.00 crores. The annual interest payment was made on the due date following a record date of July 29, 2026, marking the first interest payment since the previous one on August 14, 2025.
On 2026-08-14, HDFC Bank Limited allotted equity shares under ESOP/RSU schemes, increasing paid-up share capital from INR 15,409,391,686 to INR 15,411,120,898 and shares from 15,409,391,686 to 15,411,120,898.
On August 14, 2026, HDFC Bank Limited allotted 17,29,212 equity shares to its employees following the exercise of options or Restricted Stock Units under its Employees Stock Options Schemes. Consequently, the bank's paid-up share capital increased from 15,40,93,91,686 to 15,41,11,20,898 equity shares of Re. 1/- each. The notification was signed by Company Secretary Ajay Agarwal and submitted to the BSE and NSE for record.
HDFC Bank announced an institutional investor meet at the Motilal Oswal 22nd Annual Global Investor Conference 2026 in Mumbai on 2026-08-18 at 09:00, as a physical group meeting for investor engagement.
HDFC Bank Limited scheduled an in-person group meeting with Motilal Oswal at the 22nd Annual Global Investor Conference on August 18, 2026, in Mumbai. The filing, dated August 13, 2026, was submitted to BSE and NSE pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Ajay Agarwal noted that the schedule is subject to change due to exigencies, with any revisions to be communicated to the stock exchanges.
HDFC Bank Limited held its 32nd Annual General Meeting on August 5, 2026, via video conference. All nine proposed resolutions, including adopting financial statements, declaring dividends, re-appointing a director, fixing auditor remuneration, issuing debt instruments, modifying a related party transaction, and appointing/compensating a new independent director, were passed by shareholders with the requisite majority. The bank's performance for the financial year 2025-26 and future priorities were discussed.
HDFC Bank Limited allotted equity shares on July 31, 2026, pursuant to its Employee Stock Option Plans (ESOP) and Restricted Stock Unit (RSU) schemes. The allotment resulted in an increase in paid-up share capital from INR 15,405,142,784 to INR 15,409,391,686.
On July 31, 2026, HDFC Bank Limited allotted 42,48,902 equity shares to employees upon exercise of ESOP/RSU options. This allotment increases the bank's paid-up share capital from 15,40,51,42,784 to 15,40,93,91,686 equity shares of Re. 1/- each.
HDFC Bank Limited published a notice on July 31, 2026, in Business Standard and its Marathi translation in Navshakti regarding a special window for the transfer and dematerialisation of physical shares. This action is for informational and record purposes for the stock exchanges.
HDFC Bank Limited confirmed an interest payment of Rs. 8,80,00,00,000 on July 27, 2026, for its outstanding amount of Rs. 11,000.00 crores with ISIN INE040A08807. The interest payment was made on the due date, which was also the record date for the payment.
HDFC Bank Limited concluded an internal review of its arrangement with Maharashtra State Road Development Corporation (MSRDC) for garnering deposits in 2017 and 2021. The Board determined that employee conduct constituted business overreach, not mala fide action. As a result, three senior employees (Managing Director & CEO, CFO, Group Head – Retail Assets) will receive warning letters and a ₹1 lakh monetary penalty, while other involved employees will receive warning letters. The Reserve Bank of India will be informed of this matter.
HDFC Bank Limited has disclosed the transcripts of its earnings call held on July 18, 2026. The transcripts were uploaded to the company's website on July 24, 2026, at 15:30:00.
HDFC Bank Limited has made the transcript of its Q1 FY27 earnings call, held on July 18, 2026, available on its website and as an annexure. The call, which discussed the unaudited financial results for the quarter ended June 30, 2026, featured discussions on deposit growth, market share gains, advances trajectory, customer service enhancements, digital initiatives including GenAI, and potential risks like El Niño and geopolitical situations. Management also addressed questions regarding margin stability, the impact of FCNR mobilization, the appointment of additional Executive Directors, branch network productivity, savings account market share, CEO reappointment, and credit cost impacts from ECL methodology.
HDFC Bank Limited has exercised its call option to redeem US$1,000,000,000 of its 3.7% Additional Tier 1 Notes on August 25, 2026. The redemption will be at 100% of the principal amount outstanding, plus accrued interest. A notice of redemption has been issued to the Trustee, Citicorp International Limited, for distribution to bondholders.
HDFC Bank Limited allotted 3815400 equity shares on July 21, 2026, pursuant to its Employee Stock Option Scheme (ESOP) and Restricted Stock Unit (RSU) plans. This allotment increased the bank's paid-up share capital from INR 15,401,327,492 to INR 15,405,142,784.
HDFC Bank Limited allotted 38,15,292 equity shares on July 21, 2026, to employees who exercised options under its Employees Stock Option Scheme (ESOS). This allotment increases the bank's paid-up share capital from 15,40,13,27,492 to 15,40,51,42,784 equity shares of Re. 1/- each.
HDFC Bank Limited has disclosed an audio recording of an earnings call held on July 18, 2026. The recording was uploaded to the company's website on the same date at 20:15:00. Prior intimation of the earnings call was provided to the exchange on July 9, 2026.
HDFC Bank Limited has informed BSE Limited and the National Stock Exchange of India Limited that the SEBI Circular dated May 19, 2022, regarding Security Cover Certificates, is not applicable to the bank. This is because HDFC Bank has not issued any Secured Non-convertible Securities. The disclosure was made on July 18, 2026.
Recent market and company developments associated with HDFC Bank.
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HDFC Bank’s total market capitalisation stood at ₹11.21 lakh crore, while its adjusted P/E ratio was 14.02
Over the past five years, six prominent Nifty companies have reported negative returns. Tata Consultancy Services and Infosys struggle under the strain of evolving IT service landscapes. Hindustan Unilever has seen a dip in stock value driven by weak rural demand and intensified competition. Meanwhile, HDFC Life Insurance is grappling with slower growth and profitability challenges, and both Asian Paints and HDFC Bank have also faced considerable declines.
At 9:16 am, the BSE Sensex was up 205 points, or 0.26%, at 77,746.06, while the NSE Nifty rose 0.20% to 24,301.40, compared with its previous close of 24,252.
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Goldman Sachs has begun its assessment of fourteen Indian banks, pinpointing its top selections. ICICI Bank and Kotak Mahindra Bank stand out with Buy ratings that indicate substantial upside potential. The firm anticipates a cyclical recovery in earnings across the banking sector. It forecasts that private banks will surpass their state-owned counterparts in performance over the next two years, buoyed by loan growth and enhanced liquidity.
This week was the busiest for forex debt issuance by Indian lenders. ICICI Bank, Kotak Mahindra Bank, IDFC First Bank, HDFC Bank and Bank of Baroda together raised a massive $4.4 billion, and the bulk of the proceeds may be used to help fund the leverage for foreign currency non-resident (bank) [FCNR (B)] deposits.
HDFC Bank said it raised $1.75 billion via dual-tranche senior unsecured bonds through GIFT City branch.
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The transaction saw several domestic and global institutional investors participate, while the company’s shares ended higher on Thursday.
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Some Nifty 500 stocks rallied as others slipped on reasons including crude oil's extended rise. Here's a look at today's top gainers and losers at market open
At 9:14 am, the BSE Sensex trades at 77,395.70, up 486.02 points, or 0.63%, while the NSE Nifty is at 24,205.05, up 126.75 points, or 0.53%.
Life Insurance Corporation of India (LIC), India's largest insurance company, has received approval from the Reserve Bank of India (RBI) to increase its stake in HDFC Bank to up to 9.99 per cent.
RBI approves LIC's increase in HDFC Bank stake from 4.11% to 9.99% amid stock performance concerns.
Life Insurance Corporation of India received approval from the Reserve Bank of India. This allows LIC to increase its stake in HDFC Bank to 9.99 percent. Currently, LIC holds 4.11 percent of HDFC Bank's total share capital. The approval grants LIC flexibility to raise its investment in the lender. This development strengthens LIC's financial services sector exposure.
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Focus will also be on Autoline, Tata Motors, NIS, Quint Digital, HEG, Cellar Gadgets, Ceigall, EMS, Mukund
ITC, IRFC, HDFC Bank, KEC International, HUL, Dabur, FirstCry, ITC shares hit 52 week low, HDFC Bank stock hits 52 week low, KEC International shares hit 52 week low, HUL shares fall
Despite strong Q1 earnings beating expectations, the Indian stock market struggles to break free from a downward trend. Factors like elevated crude oil prices and geopolitical tensions play a crucial role in maintaining this state. What could trigger a shift in market trend?
At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 313.19 points or 0.41% to 76,904.66. The Nifty 50 index lost 100.95 points or 0.42% to 24,054.75.
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Elara Capital's Harendra Kumar expects the Nifty to rise 17-20% over the next 18 months as the rupee stabilises and earnings improve. He favours mid-caps, autos, power and fintech platforms like Nykaa and PB Fintech over private banks, citing a structural shift in profit pools across India's financial sector.
July was a busy month for HDFC Mutual Fund, which ramped up its investments by increasing its stakes in about 422 stocks. Simultaneously, the fund reduced its involvement in 164 stocks, affecting numerous prominent companies. They integrated five new stocks and fully exited from J.B. Chemicals and Nilkamal. HDFC Mutual Fund now manages a total of around 703 stocks, heavily weighted towards financial services.
Comprehensive Section Breakdown for HDFC Bank
Strategic Vision: Indian financial services offering retail, corporate, and wealth management.
Category: Financial Services
Manages depository accounts, vehicle loans, personal loans, credit card processing, and wealth management advisory services.
Category: Financial Services
Provides working capital facilities, term loans, trade finance, cash management solutions, and transaction banking services to corporate entities and public sector undertakings.
Category: Financial Services
Provides customized lending programs, agricultural credit, and rural banking solutions to support agricultural supply chains and semi-urban businesses.
Category: Financial Services
Offers life insurance, asset management, and general insurance products through its subsidiaries.
Key Products & Services: HDFC Life Insurance Company Limited • HDFC Asset Management Company Limited • HDFC ERGO General Insurance Company Limited
Core Thesis: The bank integrates retail liabilities, wholesale lending, and specialized group subsidiaries to create a unified customer offering and funding model.
• Mortgage & Retail Loan Integration: The bank operates an in-house mortgage division and retail credit lines, aligning housing finance with core banking services under a unified customer interface. • Cross-Selling & Depository Relationship Sourcing: Home loan and retail asset customers are cross-marketed with other banking products, and long-term retail assets support deposit collection to fund general lending. • Integrated Subsidiary Distribution: The bank's branch network distributes group financial services like insurance and mutual funds directly to depository customers. • Treasury & Liquidity Management: Retail deposits fund corporate and commercial loan portfolios, with the treasury division managing liquidity, foreign exchange, and reserve requirements.
• Integrated financial services model
• Branch network as a distribution platform for group services
• Unified customer-facing interface for banking and housing finance