HDFC Bank share price gains 3% today: Here's why - Is the worst over after a 27% one-year fall? What experts say
HDFC Bank share price: HDFC Bank share price rose sharply on Tuesday, November 3, gaining 3.2% to emerge among the top gainers on the Nifty 50. The stock opened at ₹708 and touched an intraday high of ₹722, as investors responded to the private sector lender's September-quarter performance and brokerage commentary.
Moreover, an over 1% rise in broader market indices Sensex and Nifty also aided the positive sentiment. Trading activity also picked up, with volumes reaching 146.96 lakh shares worth ₹1,051.91 crore by mid-session, compared with ₹718.40 crore on Monday.
The stock remained significantly below its 52-week high of ₹1,017.90, recorded in December 2025. It had touched a 52-week low of ₹668.90 on October 28, 2026. Despite Tuesday's gains, HDFC Bank shares remained under pressure, having fallen around 4.5% in three months, 7% in six months and 27% over the past year.
HDFC Bank Q2 results: Profit rises 4.7%, asset quality improves
HDFC Bank reported a 4.7% year-on-year (YoY) increase in profit after tax (PAT) to ₹19,510 crore in Q2FY27, including treasury trading gains. Excluding these gains, net profit grew 12.6% compared with the corresponding quarter last year.
Net interest income (NII), which represents the difference between interest earned on loans and investments and interest paid on deposits and borrowings, increased 9.7% YoY to ₹34,620 crore from ₹31,550 crore.
The bank's net interest margin (NIM) stood at 3.16% on total assets, down from 3.26% in the previous quarter. NIM on interest-earning assets was 3.32% during the July-September quarter.
Provisions and contingencies increased 18.7% sequentially to ₹3,574 crore from ₹3,010 crore in the June quarter. However, they were up just 2.1% from ₹3,501 crore in the year-ago period.
Asset quality improved during the quarter. The gross non-performing asset (GNPA) ratio declined to 1.11% as of September 30, 2026, from 1.17% in the previous quarter and 1.24% a year earlier. Meanwhile, the net NPA ratio stood at 0.37%.
According to Jigar S Patel, Senior Manager - Technical Research, Anand Rathi Share and Stock Brokers Limited, HDFCBANK is showing signs of base formation in the ₹680–700 zone, indicating the emergence of buying interest at lower levels. The hourly RSI has moved above 70, reflecting strong near-term bullish momentum and supporting the possibility of further upside.
“Given the recent strength, traders are advised to adopt a buy-on-dips strategy rather than chase the stock at elevated levels. The ₹700–690 zone is expected to act as an immediate support area, and sustained trading above this range could strengthen the ongoing recovery. On the upside, the stock may gradually move towards ₹740–750, which is the next important resistance zone. Overall, the technical setup remains positive as long as the stock holds its immediate support levels,” suggested the expert.
Brokerages remained positive on HDFC Bank, although they flagged weak earnings growth and margin pressure as concerns.
Bernstein maintained its Outperform rating on the stock with a target price of ₹1,150. The brokerage noted that weak earnings growth had continued for a second consecutive quarter. Bernstein said balance-sheet growth remained healthy and asset quality resilient, but weaker treasury income and margin pressure weighed on profitability. Return on assets (RoA) moderated marginally to 1.8%, despite continued operating expense discipline.
Meanwhile, JPMorgan maintained an Overweight rating on HDFC Bank with a target price of ₹970. The brokerage said the bank delivered a steady Q2FY27 performance. JPMorgan noted that reported NIM declined 10 basis points sequentially to 3.30%, missing its estimates due to the FCNR impact. However, it said the bank's NIM outlook was neutral to positive, supported by the potential benefit of a 25-basis-point repo rate hike and a shift towards higher-yielding retail and MSME loans. These benefits could be partly offset by the full impact of FCNR(B) in the December quarter.
The brokerage also flagged a decline in the average liquidity coverage ratio (LCR) to 113% from 115% in Q1, although it said asset quality remained healthy.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
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HomeMarketsStock MarketsHDFC Bank share price gains 3% today: Here's why - Is the worst over after a 27% one-year fall? What experts say
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