HDFC Bank Stock Update: Shares Gain 1% on Analyst Buy Call & CEO Succession News

HDFC Bank (NSE: HDFCBANK) is witnessing a positive trading session today, with its share price currently at ₹747.50, marking a gain of 1.08%. The stock opened higher at ₹738.85, compared to its previous close of ₹739.50. Throughout the intraday session, HDFCBANK has traded within a range of ₹738.85 (low) and ₹748.10 (high). While the stock shows upward momentum, the trading volume for the session stands at 7,635,387 shares, which appears subdued compared to its typical daily averages, suggesting cautious optimism among investors. ICICI Bank Stock Update: Share Price Trades Flat Ahead of Investor Meets.

52-Week Context

In terms of its annual performance, HDFC Bank's current price of ₹747.50 remains significantly below its 52-week high of ₹1,020.50, recorded on October 22, 2025. However, today's rally marks a continuation of the recovery seen since the stock hit its 52-week low of ₹681.90 on September 11, 2026. The stock has faced considerable pressure throughout 2026, declining approximately 27% year-to-date. This current upward movement is therefore a notable shift, with the stock looking to snap a two-month losing streak in September.

Latest Developments

A confluence of recent developments appears to be providing tailwinds for HDFC Bank. Notably, global financial services firm UBS has maintained a 'Buy' rating on HDFC Bank ADR, adding it to its APAC Key Call List with a target price of ₹1,000. This implies a substantial upside of nearly 36.8% from recent closing levels. UBS analysts project approximately 15% annual loan growth for FY27–29 and anticipate net interest margins (NIM) to rise towards 3.5%.

Further boosting investor confidence is the latest update regarding the bank's leadership. HDFC Bank has submitted two names to the Reserve Bank of India (RBI) for the crucial role of MD & CEO, formally commencing the succession process for Sashidhar Jagdishan, whose term is set to conclude in October. The board has also proposed a three-year term for the new CEO, signaling a push for stability and clear direction. This leadership clarity could act as a significant short-term catalyst for the stock, especially after the unexpected resignation of former Chairman Atanu Chakraborty in March 2026, which had previously raised governance concerns and contributed to a selloff.

Additionally, the Indian banking sector has benefited from robust Foreign Currency Non-Resident (FCNR(B)) deposit mobilization, with HDFC Bank itself raising close to $12 billion. S&P recently highlighted that the collective $127 billion foreign currency deposit mobilization is a "shot in the arm" for Indian banks, providing enhanced liquidity. Technical indicators also suggest a positive outlook, with the stock exhibiting a bullish divergence on the weekly Relative Strength Index (RSI), indicating improving momentum. Analysts are now advising accumulation on dips, eyeing targets of ₹800-820 over the next 5-6 months, with ₹680 acting as a crucial support level. Moreover, despite its recent underperformance, mutual funds have shown an increasing preference for HDFC Bank over ICICI Bank in August, signaling a reassessment of its valuation and recovery potential by domestic institutional investors.

Outlook

For the remainder of the trading session, investors will be keenly watching for further news on the CEO succession and any broader market movements. Key resistance levels to monitor for HDFCBANK are in the ₹760-770 range, with a decisive break potentially paving the way towards the ₹790-808 zone.

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 22, 2026 09:32 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).