HDFC Bank shares edge higher as UBS reiterates Buy with ₹1,000 target; Q2 results awaited

UBS reiterates Buy on HDFC Bank with ₹1,000 target

UBS maintained a Buy rating on HDFC Bank and added the stock to its APAC Key Call list on Monday, setting a target price of ₹1,000. The brokerage cited a likely resolution of the CEO succession issue, strong branch expansion, and expectations of loan growth improving to 15 per cent over FY27-FY29, with margins recovering to 3.5 per cent. UBS pegged the stock's return on assets at 1.9 per cent by FY28 and called valuations at 1.4x FY28 price-to-book favourable.

Shares trade marginally higher amid sell-side pressure

HDFC Bank shares rose 0.41 per cent to ₹741.65 by 12:20 pm on the NSE, after opening at ₹735.65. The stock touched an intraday high of ₹742.80 and a low of ₹734.00, with traded volume of 131.70 lakh shares and a traded value of ₹973.48 crore. Total market capitalisation stood at ₹11.43 lakh crore. Sell-side pressure remained visible, with 68.75 per cent of the order book on the sell side against 31.25 per cent on the buy side.

Year-to-date performance lags despite weekly gain

Despite a near 4 per cent weekly gain, the stock remained down over 25 per cent year-to-date and was well below its 52-week high of ₹1,020.50 hit in October 2025. The disconnect between the recent UBS upgrade and the broader price weakness framed the day's trading focus.

Q2 results scheduled for October 17

Investor attention is turning to HDFC Bank's Q2 results, scheduled for October 17, 2026, which will provide the next checkpoint on loan growth, margins, and the CEO succession timeline flagged by UBS.