HDFC Bank Share Price Drops Over 2%, Down 30% YTD: Key Levels to Watch
- October 22, 2026
- Posted by: Neeraj Pandey
- Category: News
HDFC Bank share price was Rs 693.10 at 1:19 PM IST on 22 Oct 2026, down Rs 13.85 or 1.96% from the previous close of Rs 706.95, after touching a low of Rs 691.15. The stock is down about 30% this year by my calculation and about 32% below its reported high of Rs 1,020.50. The 52-week low of Rs 681.90 is only about 1.6% below the current price. Q2 FY27 profit rose 4.7%.
Quick Answer
HDFC Bank share price fell nearly 2% to Rs 693.10 and trades about 30% lower this year, with the 52-week low of Rs 681.90 as the nearest support. Q2 FY27 standalone profit rose 4.7% to Rs 19,510 crore, but the net interest margin slipped to 3.16% and treasury gains fell 67%, which has kept sentiment weak. Anup Bagchi takes over as MD and CEO on 27 Oct, and the stock trades near 12.8 times earnings against an industry multiple of about 11.8. The levels of Rs 681.90 to Rs 691.15 and Rs 702.80 to Rs 712 are the ones to watch, but this is not a trading call.
HDFC Bank share price has now fallen for several sessions in a row, with a three-day decline of about 4.6% reported by one source, and it sits below all its major moving averages. The stock opened at Rs 701.45 on Thursday, touched a high of Rs 702.80 and then slid to Rs 691.15, with about 4.1 crore shares traded on the NSE.
This article on HDFC Bank share price explains the latest fall, the Q2 FY27 numbers behind it, the key levels to watch, the valuation and the risks. It is educational and not a recommendation to buy or sell, and the levels I give are my own reading of the price data.
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HDFC Bank Share Price Today: Price Action
| HDFC Bank share price: point | Level on 22 Oct 2026 |
|---|---|
| Previous close | Rs 706.95 |
| Open | Rs 701.45 |
| Day high | Rs 702.80 |
| Day low | Rs 691.15 |
| Price at 1:19 PM | Rs 693.10, down 1.96% |
| Volume on NSE | About 4.13 crore shares |
| 52-week low | Rs 681.90 |
| Reported 52-week high | Rs 1,020.50 (one source) |
HDFC Bank share price was Rs 712 on 19 Oct, the Monday after the results, down about 2% in early trade, traded at Rs 707.60 on 21 Oct and closed at Rs 706.95. A report on the day said the stock was down 27.9% for the year at Rs 712, which implies a start-of-year price near Rs 988 (my calculation), and from that base the fall at Rs 693.10 is about 30%, in line with the headline. The 52-week high of Rs 1,020.50 comes from one report that I could not cross-check.
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HDFC Bank Share Price: Key Levels to Watch
| HDFC Bank share price: level (my reading) | Why it matters |
|---|---|
| Rs 681.90 | The 52-week low and the main support; a break below it would be a fresh low |
| Rs 691.15 | Today’s intraday low and the first support |
| Rs 702.80 | Today’s high and the first resistance |
| Rs 706.95 | The previous close, a level sellers defended today |
| Rs 712 | The close on 19 Oct and the next resistance above |
These are levels from the price data and are not forecasts. The stock trades below its 5, 20, 50, 100 and 200-day moving averages, which marks a downtrend, so a bounce toward Rs 706 to Rs 712 may meet selling. Delivery volume on 21 Oct was about 1% below its five-day average, which suggests no panic selling by investors who plan to hold (my reading of the report). The stock is about 1.6% above the 52-week low, so the key levels to watch in the next few sessions are Rs 691.15 and Rs 681.90.
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Risk: A fall below the 52-week low would mark a fresh low, and stocks can drop quickly when a major support breaks.
HDFC Bank Share Price and the Q2 FY27 Results
| HDFC Bank share price: Q2 FY27 metric | Figure |
|---|---|
| Standalone net profit | Rs 19,510 crore, up 4.7% from Rs 18,641 crore |
| Consolidated net profit | Rs 20,700 crore, up 5.6% |
| Net interest income | Rs 34,619 crore, up 9.7% |
| Net interest margin | 3.16% against 3.26% in Q1, called the lowest on record by CNBC-TV18 |
| Treasury gains | Rs 780 crore against Rs 2,390 crore, down 67.4% |
| Profit growth excluding treasury | About 12.6% |
| Provisions | Rs 3,574 crore, up 18.7% from the previous quarter |
The 4.7% profit growth is held back by the fall in treasury gains, which cut about Rs 1,610 crore from a year earlier (my calculation from the two figures). Excluding that, profit rose about 12.6%. The Q2 FY27 results therefore show decent core growth but a squeezed margin, and the market focuses on the margin. Different reports quote the standalone profit as Rs 19,510 crore, Rs 19,610 crore and Rs 18,610 crore in their titles; I use Rs 19,510 crore, which three reports agree on.
Balance Sheet and Asset Quality Behind the HDFC Bank Share Price
| HDFC Bank share price: balance sheet metric | Figure |
|---|---|
| Deposits | Rs 33,24,146 crore, up 18.8% |
| Advances | Rs 33,16,057 crore, up 16.2% |
| Advances by segment | SME up 23.5%, corporate up 16.4%, retail up 11.7% |
| CASA share of deposits | 31.6% |
| Gross NPA | 1.11%, against 1.17% in June and 1.24% a year ago |
| Net NPA | 0.37% |
| Capital adequacy and CET1 | 18.9% and 17.1% |
Asset quality improved and capital is strong, which supports the HDFC Bank share price on any recovery. Deposits grew faster than advances, which is healthy, but growth in time deposits of 22.8% against 10.7% in average CASA shows the deposit mix is getting more expensive, which explains the pressure on the margin (my reading). The numbers imply a credit-deposit ratio near 99.8% from the figures above, while another report gives about 96.8% from different loan figures, so I do not rely on either. Subsidiaries added to profit: HDB Financial Services earned Rs 780 crore, up 34.2%, and HDFC Life Rs 510 crore, up 13.6%.
CEO Change and the HDFC Bank Share Price
Anup Bagchi becomes managing director and CEO on 27 Oct 2026, succeeding Sashidhar Jagdishan, and the Q2 FY27 quarter was the last under the outgoing CEO. A change at the top can add uncertainty for the HDFC Bank share price, though a planned succession is usually smooth. Investors in the HDFC Bank share price will look for the new CEO’s priorities on margins, deposit growth and the loan-to-deposit ratio in the next results.
HDFC Bank Share Price Valuation
| HDFC Bank share price: valuation measure | Figure |
|---|---|
| Market capitalisation | About Rs 10.89 lakh crore |
| Trailing EPS | Rs 54.28 |
| P/E at Rs 693.10 | About 12.8 times (my calculation) |
| Industry P/E | 11.84 times |
| Book value per share | Rs 391.39 |
| Price to book at Rs 693.10 | About 1.77 times (my calculation) |
| Return on equity | 13.27% |
| Dividend yield | 2.19% |
At about 12.8 times earnings the bank trades slightly above the industry multiple, which is unusual after a 30% fall, but it also earns a higher return on equity than many peers (my reading). A price to book near 1.8 times is modest for a bank with a gross NPA of 1.11%. MarketsMOJO rates the stock Hold, upgraded from Sell in February.
Risk: Margin pressure could continue if deposit costs stay high, and a lower margin would limit profit growth even when loans grow.
HDFC Bank Share Price: Buy, Hold or Wait?
| HDFC Bank share price: investor type (my reading) | Points to weigh |
|---|---|
| Long-term investor | Strong capital, improving asset quality and a 2.19% dividend yield support a long view, but margin recovery is the key |
| New buyer | Staggered buying around the support zone limits timing risk |
| Short-term trader | Rs 681.90 and Rs 702.80 are the reference levels; use stop-losses |
This is an educational view and not advice. The fall of 30% in a year in the largest private bank is large, and the case for a recovery in the HDFC Bank share price rests on margins, deposits and the new CEO.
What to Watch Next on the HDFC Bank Share Price
- Whether the HDFC Bank share price holds Rs 691.15 and the 52-week low of Rs 681.90
- Anup Bagchi’s first statements as CEO from 27 Oct
- The net interest margin against the 3.16% in Q2 FY27
- Deposit mix, time deposits against CASA, and the credit-deposit ratio
- Treasury gains and provisions in the next quarter
Conclusion
HDFC Bank share price fell over 2% to Rs 693.10 and is about 30% lower this year, with the 52-week low of Rs 681.90 only about 1.6% away. Core profit growth of about 12.6% excluding treasury gains and strong asset quality are positives, but a record-low margin and a CEO change keep sentiment cautious. Read the filings and size any position to your own risk.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why is the HDFC Bank share price falling?
Ans. Q2 FY27 profit rose only 4.7% because treasury gains fell 67%, the net interest margin slipped to 3.16%, and the CEO is changing on 27 Oct. A weak market and a downtrend below all key moving averages add to the pressure.
What are the key levels to watch for the HDFC Bank share price?
Ans. My reading of the price data gives support at Rs 691.15 and the 52-week low of Rs 681.90, and resistance at Rs 702.80, Rs 706.95 and Rs 712. These are not forecasts.
How much is the HDFC Bank share price down this year?
Ans. The headline says about 30%. A report on 19 Oct showed 27.9% at Rs 712, and by my calculation the fall at Rs 693.10 is about 29.8%.
What were the Q2 FY27 results of HDFC Bank?
Ans. Standalone profit was Rs 19,510 crore, up 4.7%, consolidated profit was Rs 20,700 crore, up 5.6%, and net interest income was Rs 34,619 crore, up 9.7%. Gross NPA improved to 1.11%.
Is the HDFC Bank share price expensive?
Ans. At Rs 693.10 the P/E is about 12.8 times by my calculation against an industry P/E of 11.84, and the price to book is about 1.77. Return on equity is 13.27% and the dividend yield is 2.19%.
Who is the new CEO of HDFC Bank?
Ans. Anup Bagchi becomes managing director and CEO on 27 Oct 2026, succeeding Sashidhar Jagdishan. The Q2 FY27 quarter was the last under the outgoing CEO.
What are the risks for the HDFC Bank share price?
Ans. Risks include a record-low net interest margin, higher deposit costs, falling treasury gains, a CEO transition and a downtrend that could break the 52-week low of Rs 681.90.
Is this article investment advice?
Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.
