HDFC Bank shares rise on UBS buy call; Q2 Results in focus
UBS adds HDFC Bank stock to its APAC Key Call list, assigns target price of ₹1,000
HDFC Bank's shares experienced a slight increase on Wednesday, reaching ₹741.65 on the NSE, up 0.41 per cent from its opening price of ₹735.65. Throughout the trading day, the stock reached a peak of ₹742.80 and dropped to a low of ₹734.00. With a traded volume of 131.70 lakh shares, the market capitalisation of HDFC Bank stands at ₹11.43 lakh crore. However, the stock remains subject to sell-side pressure, as 68.75 per cent of the order book is on the sell side, compared to 31.25 per cent on the buy side.
This week, the stock has drawn attention after UBS upgraded its rating to Buy and set a target price of ₹1,000 for the stock, adding it to its APAC Key Call list. UBS attributes this positive outlook to the resolution of the CEO succession issue, the expansion of branches, and the expectation of improved loan growth, which could reach 15 per cent over FY27-29, with margins recovering to 3.5 per cent.
The brokerage believes that the stock's return on assets will be 1.9 per cent by FY28 and considers valuations at 1.4x FY28 price-to-book to be favorable.
Despite a near 4 per cent weekly gain, HDFC Bank's shares are still down over 25 per cent year-to-date and are trading below its 52-week high of ₹1,020.50, which was reached in October 2025. Investor focus is now shifting towards the company's Q2 results, which are expected to be released on October 17, 2026.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
