HDFC Bank Stock Update: Share Price Slips 1.37% Intraday
HDFC Bank (NSE: HDFCBANK) share price is trading at ₹709.20, down 1.37% intraday, amidst profit booking despite recent positive analyst outlooks.
HDFC Bank (NSE: HDFCBANK) shares are currently trading lower in Wednesday's intraday session, registering a decline of 1.37% to ₹709.20. The stock opened at ₹713.70, briefly touching an intraday high of ₹715.90 before retreating to a low of ₹708.50. This performance sees the banking heavyweight trading below its previous close of ₹719.05, indicating a negative sentiment prevailing in early trade. Volume on the counter stands at 4,811,653 shares, which appears subdued compared to typical trading activity, suggesting a lack of strong directional conviction despite the price dip. Infosys Stock Update: Share Price Slips 1% Amid AI Workforce Shift.
| HDFCBANK – Stock Updates as of (9:30AM, 29 Sep 2026) | |||
|
LTP
₹709.20 |
Open
₹713.70 |
High
₹715.90 |
Low
₹708.50 |
|
52W High
₹0.00 |
52W Low
₹0.00 |
Volume
4,811,653 |
% Chg
-1.37% |
52-Week Context
With 52-week high and low data currently unavailable, it is challenging to assess HDFC Bank's present position relative to its annual extremes. However, recent technical analysis from September 28 indicated that the stock had rebounded from support near ₹680 and broken out of a falling wedge formation, suggesting positive momentum with potential targets of ₹770–830 over the short term. Today's move, however, sees the stock pulling back from recent gains, retreating below recent resistance levels observed around ₹737 and ₹743.
Latest Developments
The current decline in HDFC Bank's share price comes despite recent positive commentary from global brokerage Jefferies. In a report dated September 28, Jefferies maintained a "Buy" rating on HDFC Bank, setting a price target of ₹880, implying an upside of approximately 20% from a reference price of ₹735.80. The brokerage highlighted three key triggers for a potential rerating: clarity on CEO succession, a timely reorganisation of the management team if needed, and improved execution across deposits, fee income, and loan mix.
Speculation around the new CEO appointment is gaining traction, with reports from September 28 suggesting that the Reserve Bank of India (RBI) is weighing Anup Bagchi's candidature for the MD and CEO role. This leadership transition is viewed as crucial for addressing lingering concerns and steering the bank's future growth trajectory. Jefferies also noted that near-term earnings growth is expected to remain muted before accelerating, and emphasized the need for stronger execution on retail deposits, an area where HDFC Bank's LCR retail deposits grew slower than some peers. This underlying caution, despite a positive long-term outlook, could be contributing to the intraday profit booking or cautious trading.
Furthermore, HDFC Bank recently informed the exchange about a Board Meeting scheduled for October 17, 2026, to consider and approve its unaudited standalone and consolidated financial results for the quarter/half-year ending September 30, 2026. While not an intraday catalyst for the current fall, upcoming earnings will be a key event for investors.
Outlook
Investors will closely monitor HDFC Bank's ability to hold current support levels as profit booking continues. The broader market sentiment and any further updates on the CEO succession plan will likely dictate the stock's movement for the remainder of the session and in the near term.
Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.
(The above story first appeared on LatestLY on Sep 29, 2026 09:30 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
