HDFC Bank Stock Update: Shares Up 1% in Early Trade
HDFC Bank (NSE: HDFCBANK) share price rises to ₹708.25, up 1.06% in early trade, as the stock navigates recent 52-week lows and CEO succession news.
HDFC Bank (NSE: HDFCBANK) shares are witnessing positive momentum in early intraday trade today, rising to ₹708.25. The stock opened at ₹705.00, slightly above its previous close of ₹700.80, and has since touched an intraday high of ₹710.90 while maintaining a low of ₹705.00. Currently trading up by 1.06%, the counter is seeing active volumes, with 4,658,974 shares already changing hands within the first hour of trading, indicating keen investor interest after a period of significant volatility.
| HDFCBANK – Stock Updates as of (9:32AM, 03 Sep 2026) | |||
|
LTP
₹708.25 |
Open
₹705.00 |
High
₹710.90 |
Low
₹705.00 |
|
52W High
₹0.00 |
52W Low
₹0.00 |
Volume
4,658,974 |
% Chg
+1.06% |
HDFC Bank Shares Hover Near 52-Week Low of ₹698.50
Today's upward movement comes as HDFC Bank's stock remains perilously close to its recent 52-week lows, following a substantial correction from its annual peaks. The stock hit a fresh 52-week low of ₹698.50 on September 1, 2026, marking its fourth consecutive session of new lows. The current LTP of ₹708.25, while showing a slight recovery today, is still hovering near this critical support level. The private lender has shed approximately 28.17% year-to-date and is down around 31.5% from its 52-week high of ₹1,020.35 recorded in October 2025. This prolonged underperformance has seen the stock significantly lag the NIFTY 50 over various timeframes, including one, three, and five years. ICICI Bank Stock Update: Share Price Rallies 1.35% on FCNR(B) Inflows.
HDFC Bank CEO Exit Sparks Market Uncertainty
The primary catalyst driving HDFC Bank's recent performance has been the uncertainty surrounding its leadership. On August 31, 2026, MD and CEO Sashidhar Jagdishan announced that he would not seek reappointment after his current term concludes in October 2026. This news has led to a mixed reaction from the market and analysts. Initially, shares saw a brief surge on hopes for a potential re-rating under new leadership. However, several prominent brokerages, including HSBC, BofA Securities, and Jefferies, subsequently trimmed their target prices for HDFC Bank, citing concerns over deposit growth and the inherent risks associated with a leadership transition. HSBC, for instance, downgraded the stock from a "Buy" to a "Hold" rating. Despite these revisions, many analysts continue to maintain "Buy" ratings, noting that the stock's valuations, trading around 1.5 to 1.8 times one-year forward price-to-book, are attractive given the prolonged underperformance. Technically, experts have identified a strong support zone for HDFC Bank around the ₹700 level, suggesting that a sustained move above ₹735-740 could signal a potential trend reversal. Reliance Industries Stock Update: Share Price Edges Up on Jio IPO News.
For the remainder of the trading session, investors will closely monitor sustained buying interest around the ₹700 support, particularly given the stock's proximity to its 52-week low. The market will also continue to watch for further developments regarding the CEO succession plan and any fresh brokerage commentary, which could influence intraday volatility.
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 03, 2026 09:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
