Shares of HDFC Bank ended 2 per cent lower at ₹840.70 after falling 4 per cent on the NSE to hit a 52-week low of ₹821.50 amid continued selling pressure in the banking major. The stock later recovered some ground but remained under stress.
HDFC Bank stock movement today
The recent decline extends the stock’s phase of underperformance, driven by concerns surrounding margin pressures and deposit mobilisation challenges even as the broader banking sector remains relatively stable.
Kotak Institutional Equities upgraded HDFC Bank to buy and set a target price of ₹1,050, citing the sharp correction in the stock price that has widened its valuation discount relative to peers.
The brokerage noted that while the business models and loan books of large banks remain broadly comparable, HDFC Bank continues to face liability-side constraints that justify a relatively lower valuation multiple.
Kotak said that at current levels, downside risks appear fairly limited. However, it cautioned that meaningful outperformance would require stronger visibility on improvement in the bank’s liability franchise. The brokerage added that any re-rating in the stock would depend on building investor confidence around expansion in net interest margins, which remains a key monitorable for the lender going forward.
Published on March 9, 2026
