HDFC Bank shares rebound after hitting 52-week low; should you buy?

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 was last seen trading 0.75 per cent higher at Rs 692.40. Despite the rebound, HDFC Bank shares have declined 30.11 per cent so far this year.

The recovery came after an Economic Times report said HDFC Bank won all seven cases filed against it in Bahrain by investors in Credit Suisse Additional Tier-1 (AT-1) bonds.

"HDFC Bank has won all seven cases filed against it in Bahrain by investors in Credit Suisse AT-1 bonds matter, providing the lender relief from a key legal overhang arising from allegations of mis-selling of the high-risk securities," the report stated.

According to the report, the High Civil Court of Bahrain on September 9 passed favourable orders in the final two proceedings against HDFC Bank. Five similar cases had been rejected by the Bahrain court between July and August, it added.

Business Today could not independently verify the report at the time of publishing this story.

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.