HDFC Bank shares slip 26% in 2026; recovery or more correction on cards?
HDFC Bank share price: Widespread selling on the banking counter took it to a 52-week low of Rs 726.75 on April 2, 2026.
- Jun 9, 2026,
- Updated Jun 9, 2026 3:40 PM IST
HDFC Bank share price: Shares of India's largest private sector lender HDFC Bank have slipped 26% in 2026, majorly affected by the sudden resignation of Chairman Atanu Chakraborty on March 18, which triggered concerns over corporate governance and management stability.
The ongoing conflict between US-Israel and Iran also hit investor sentiment around the stock. Widespread selling on the banking counter took it to a 52-week low of Rs 726.75 on April 2, 2026. The stock is trading near that level since then amid high volatility in the broader market caused by the West Asia conflict and a spike in crude oil prices.
The trend has been extremely bearish for the banking stock, which trades below the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
The stock is the top loser among the 12 stocks on Bank Nifty in a year.
JP Morgan has a price target of Rs 990 on HDFC Bank stock with an overweight stance.
The brokerage says the bank's valuation have hit historically attractive levels. According to the brokerage, the bank maintains a strong, robust core franchise.
Brokerage Systematix has a price target of Rs 950 on the banking stock.
Brokerage Nirmal Bang has a target price of Rs 1037, an upside of over 30% from the current market price.
Nirmal Bang said the bank has made significant long-term investments to position itself as a technology-first institution, with technology investments exceeding $1 bn.
"HDFC Bank merits a premium valuation versus large private sector peers, supported by its superior asset quality, strong liability franchise, and granular retail deposit base. Despite global uncertainties, the bank has delivered stable performance, with NIM at 3.38%, ROE of 14%, and ROA of 1.9%," said Nirmal Bang.
HDFC Bank share price: Shares of India's largest private sector lender HDFC Bank have slipped 26% in 2026, majorly affected by the sudden resignation of Chairman Atanu Chakraborty on March 18, which triggered concerns over corporate governance and management stability.
The ongoing conflict between US-Israel and Iran also hit investor sentiment around the stock. Widespread selling on the banking counter took it to a 52-week low of Rs 726.75 on April 2, 2026. The stock is trading near that level since then amid high volatility in the broader market caused by the West Asia conflict and a spike in crude oil prices.
The trend has been extremely bearish for the banking stock, which trades below the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
The stock is the top loser among the 12 stocks on Bank Nifty in a year.
JP Morgan has a price target of Rs 990 on HDFC Bank stock with an overweight stance.
The brokerage says the bank's valuation have hit historically attractive levels. According to the brokerage, the bank maintains a strong, robust core franchise.
Brokerage Systematix has a price target of Rs 950 on the banking stock.
Brokerage Nirmal Bang has a target price of Rs 1037, an upside of over 30% from the current market price.
Nirmal Bang said the bank has made significant long-term investments to position itself as a technology-first institution, with technology investments exceeding $1 bn.
"HDFC Bank merits a premium valuation versus large private sector peers, supported by its superior asset quality, strong liability franchise, and granular retail deposit base. Despite global uncertainties, the bank has delivered stable performance, with NIM at 3.38%, ROE of 14%, and ROA of 1.9%," said Nirmal Bang.