After hitting 52-week low, HDFC Bank shares climb: Long-term buying opportunity?
Stock-wise, HDFC Bank ended this truncated week 1.21 per cent higher at Rs 751.10, after slipping to a 52-week low of Rs 726.75 during Thursday's highly volatile trading session.
- Apr 3, 2026,
- Updated Apr 3, 2026 10:54 AM IST
Shares of HDFC Bank Ltd have largely under pressure in recent sessions following the sudden resignation of its former part-time chairman and independent director Atanu Chakraborty. The country's largest private sector lender recently informed stock exchanges that its board has approved the appointment of external law firms, both domestic and international, to review the circumstances surrounding Chakraborty's exit.
Stock-wise, HDFC Bank ended this truncated week 1.21 per cent higher at Rs 751.10, after slipping to a 52-week low of Rs 726.75 during Thursday's highly volatile trading session.
Some market experts largely believe the current correction could offer a gradual accumulation opportunity for long-term investors, though near-term performance may remain subdued.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "Investors can hold on to the stock and try to accumulate it on dips. We also need to acknowledge that there is an exodus of funds by foreign portfolio investors (FPIs), and the Indian banking and financial services (BFSI) segment has the highest exposure as far as FPIs are concerned. With this, the stock is likely to underperform in the medium term, but domestic institutional investors (DIIs) have been holding it and increasing their stakes, which is sustaining the stock price. One can consider buying on dips with a medium- to long-term perspective. Investors with a two- to three-year horizon can hold on."
He added, "Secondly, one also needs to keep in mind that this is not a stock that may perform in a day or a week. That said, it has a strong business model and has been a consistent compounder. Therefore, one needs to have a longer-term horizon rather than looking at a one- to two-quarter perspective." HDFC Bank is scheduled to announce its Q4 FY26 earnings on April 18, which could provide further directional cues to investors.
Echoing a similar view, Ravi Singh, Chief Research Officer at Mastertrust, advised accumulating the stock from a long-term perspective. He suggested a target price of Rs 850 on the counter and recommended maintaining a strict stop loss at Rs 680.
A few technical analysts indicate that the stock's short-term outlook remains weak unless it manages to decisively cross key resistance levels.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "HDFC Bank has witnessed a sharp correction this calendar year, declining around 24 per cent with limited signs of immediate recovery. Although, indicators suggest the stock is in an extreme oversold zone, persistent concerns continue to cap a meaningful rebound. From a levels perspective, the Rs 710-700 range has historically provided strong support and may be considered for staggered accumulation with a medium-term view. On the upside, resistance is expected around Rs 780-800, followed by Rs 820-830. And, only a decisive breakout above these levels would revive bullish momentum."
Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher (PL), noted, "With bias still maintained very much weak, would have the next near-term support at 710 level while the crucial and major support is positioned near the 680 zone which needs to be sustained failing which the overall trend would turn bearish. From current level, for the bias to improve it needs to cross the important resistance zone of 800 level and thereafter, establishing conviction can expect for further upward move in the coming days."
On the earnings front, HDFC Bank reported an 11.5 per cent year-on-year (YoY) rise in net profit to Rs 18,654 crore for Q3 FY26, supported by a 6.4 per cent growth in net interest income (NII), which stood at Rs 32,615 crore.
Meanwhile, Indian equity benchmarks will remain closed on Friday on account of Good Friday.
Shares of HDFC Bank Ltd have largely under pressure in recent sessions following the sudden resignation of its former part-time chairman and independent director Atanu Chakraborty. The country's largest private sector lender recently informed stock exchanges that its board has approved the appointment of external law firms, both domestic and international, to review the circumstances surrounding Chakraborty's exit.
Stock-wise, HDFC Bank ended this truncated week 1.21 per cent higher at Rs 751.10, after slipping to a 52-week low of Rs 726.75 during Thursday's highly volatile trading session.
Some market experts largely believe the current correction could offer a gradual accumulation opportunity for long-term investors, though near-term performance may remain subdued.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "Investors can hold on to the stock and try to accumulate it on dips. We also need to acknowledge that there is an exodus of funds by foreign portfolio investors (FPIs), and the Indian banking and financial services (BFSI) segment has the highest exposure as far as FPIs are concerned. With this, the stock is likely to underperform in the medium term, but domestic institutional investors (DIIs) have been holding it and increasing their stakes, which is sustaining the stock price. One can consider buying on dips with a medium- to long-term perspective. Investors with a two- to three-year horizon can hold on."
He added, "Secondly, one also needs to keep in mind that this is not a stock that may perform in a day or a week. That said, it has a strong business model and has been a consistent compounder. Therefore, one needs to have a longer-term horizon rather than looking at a one- to two-quarter perspective." HDFC Bank is scheduled to announce its Q4 FY26 earnings on April 18, which could provide further directional cues to investors.
Echoing a similar view, Ravi Singh, Chief Research Officer at Mastertrust, advised accumulating the stock from a long-term perspective. He suggested a target price of Rs 850 on the counter and recommended maintaining a strict stop loss at Rs 680.
A few technical analysts indicate that the stock's short-term outlook remains weak unless it manages to decisively cross key resistance levels.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "HDFC Bank has witnessed a sharp correction this calendar year, declining around 24 per cent with limited signs of immediate recovery. Although, indicators suggest the stock is in an extreme oversold zone, persistent concerns continue to cap a meaningful rebound. From a levels perspective, the Rs 710-700 range has historically provided strong support and may be considered for staggered accumulation with a medium-term view. On the upside, resistance is expected around Rs 780-800, followed by Rs 820-830. And, only a decisive breakout above these levels would revive bullish momentum."
Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher (PL), noted, "With bias still maintained very much weak, would have the next near-term support at 710 level while the crucial and major support is positioned near the 680 zone which needs to be sustained failing which the overall trend would turn bearish. From current level, for the bias to improve it needs to cross the important resistance zone of 800 level and thereafter, establishing conviction can expect for further upward move in the coming days."
On the earnings front, HDFC Bank reported an 11.5 per cent year-on-year (YoY) rise in net profit to Rs 18,654 crore for Q3 FY26, supported by a 6.4 per cent growth in net interest income (NII), which stood at Rs 32,615 crore.
Meanwhile, Indian equity benchmarks will remain closed on Friday on account of Good Friday.