HDFC Bank shares rebound after hitting 52-week low; should you buy?
HDFC Bank Managing Director and CEO Sashidhar Jagdishan is set to retire from the bank at the end of October after deciding not to seek another term.
- Sep 10, 2026,
- Updated Sep 10, 2026 5:11 PM IST
Shares of HDFC Bank Ltd hit a fresh 52-week low of Rs 686.20 in Thursday's trade before recovering from the day's low and turning positive. The stock settled 0.98 per cent higher at Rs 694. Despite the rebound, HDFC Bank shares have declined 29.95 per cent so far this year.
The recovery came after HDFC Bank said it won all seven cases filed against it in Bahrain by investors in Credit Suisse Additional Tier-1 (AT-1) bonds.
"On September 9, 2026, HDFC Bank Limited (the Bank) received favourable orders from High Civil Court, Bahrain, in two proceedings initiated against the Bank by the investors of Credit Suisse Additional Tier 1 Bonds (CS AT1), following judicial scrutiny of their claims and the evidentiary materials placed before the Bahrain Court. Between July and August 2026, the Bahrain Court also rejected five other similar matters concerning investors of CS AT1," it stated.
"The seven investors in their complaints had all alleged gross negligence, intentional misrepresentation, incorrect customer classification, non-disclosure of product features/characteristics, misuse of financial leverage and violation of product suitability principles with respect to their investment in CS AT1 Bonds through the Bank. All these allegations were rejected outright by the Court," HDFC Bank added.
"The Bahrain Court rejected their claims outright after finding that the investors had failed to produce sufficient admissible evidence to prove/substantiate these allegations against the Bank or that they suffered any loss owing to the Bank. In all the seven judgments by the Bahrain Court, the investors were ordered to bear the costs of the proceedings," the lender also said.
"The favourable outcomes in Bahrain Court follow dismissal by the National Consumer Dispute Redressal Commission (NCDRC) in March 2026 of complaints by the investors of CS AT1 Bonds against the Bank," it further said.
Meanwhile, HDFC Bank Managing Director and CEO Sashidhar Jagdishan is set to retire from the bank at the end of October after deciding not to seek another term. The bank said its board had taken note of Jagdishan's communication that he did not wish to seek reappointment.
The board said it had attempted to persuade Jagdishan to reconsider his decision, but he reiterated that he would not seek another term. Jagdishan will retire from HDFC Bank at the close of business hours on October 26, 2026.
The bank said its board would fast-track the process of selecting and appointing his successor and complete the process "well within time".
Should you consider buying?
Kranthi Bathini, equity strategist at WealthMills Securities, said that given the current valuations, investors with a long-term view can consider holding the stock. "Fresh accumulation can also be considered, given its past performance and business model," he added.
Ravi Singh, Chief Research Officer at Master Capital Services, noted that HDFC Bank shares are down around 30 per cent so far in 2026. "Business growth remains weaker than peers, while crude above $100 raises rate-hike concerns. Despite these headwinds, the sharp correction could offer an opportunity to accumulate at lower levels, with a target price of Rs 850," he said.
Shares of HDFC Bank Ltd hit a fresh 52-week low of Rs 686.20 in Thursday's trade before recovering from the day's low and turning positive. The stock settled 0.98 per cent higher at Rs 694. Despite the rebound, HDFC Bank shares have declined 29.95 per cent so far this year.
The recovery came after HDFC Bank said it won all seven cases filed against it in Bahrain by investors in Credit Suisse Additional Tier-1 (AT-1) bonds.
"On September 9, 2026, HDFC Bank Limited (the Bank) received favourable orders from High Civil Court, Bahrain, in two proceedings initiated against the Bank by the investors of Credit Suisse Additional Tier 1 Bonds (CS AT1), following judicial scrutiny of their claims and the evidentiary materials placed before the Bahrain Court. Between July and August 2026, the Bahrain Court also rejected five other similar matters concerning investors of CS AT1," it stated.
"The seven investors in their complaints had all alleged gross negligence, intentional misrepresentation, incorrect customer classification, non-disclosure of product features/characteristics, misuse of financial leverage and violation of product suitability principles with respect to their investment in CS AT1 Bonds through the Bank. All these allegations were rejected outright by the Court," HDFC Bank added.
"The Bahrain Court rejected their claims outright after finding that the investors had failed to produce sufficient admissible evidence to prove/substantiate these allegations against the Bank or that they suffered any loss owing to the Bank. In all the seven judgments by the Bahrain Court, the investors were ordered to bear the costs of the proceedings," the lender also said.
"The favourable outcomes in Bahrain Court follow dismissal by the National Consumer Dispute Redressal Commission (NCDRC) in March 2026 of complaints by the investors of CS AT1 Bonds against the Bank," it further said.
Meanwhile, HDFC Bank Managing Director and CEO Sashidhar Jagdishan is set to retire from the bank at the end of October after deciding not to seek another term. The bank said its board had taken note of Jagdishan's communication that he did not wish to seek reappointment.
The board said it had attempted to persuade Jagdishan to reconsider his decision, but he reiterated that he would not seek another term. Jagdishan will retire from HDFC Bank at the close of business hours on October 26, 2026.
The bank said its board would fast-track the process of selecting and appointing his successor and complete the process "well within time".
Should you consider buying?
Kranthi Bathini, equity strategist at WealthMills Securities, said that given the current valuations, investors with a long-term view can consider holding the stock. "Fresh accumulation can also be considered, given its past performance and business model," he added.
Ravi Singh, Chief Research Officer at Master Capital Services, noted that HDFC Bank shares are down around 30 per cent so far in 2026. "Business growth remains weaker than peers, while crude above $100 raises rate-hike concerns. Despite these headwinds, the sharp correction could offer an opportunity to accumulate at lower levels, with a target price of Rs 850," he said.