HDFC Bank to be in focus today on Dalal Street. Here's all you need to know
India Today
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
HDFC Bank shares are likely to remain in focus today after a sharp fall in the last two trading sessions of last week and a series of developments linked to governance and overseas operations.
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
The fall has not been limited to just the past two days. In March 2026 so far, HDFC Bank shares have dropped from Rs 887.75 to Rs 781, a decline of more than 12%. This puts the stock on track for its worst monthly fall since March 2020. During that period, the stock had fallen 26.8% as markets crashed due to the Covid-19 pandemic.
The recent pressure on the stock also comes at a time when the bank is going through changes at the top level. Chairman Atanu Chakraborty has resigned, citing differences related to personal values, ethics, and certain internal practices.
Following his exit, Keki Mistry has been appointed as interim non-executive chairman for three months to ensure continuity. The Reserve Bank of India (RBI) has clarified that it does not see any material concerns regarding the bank’s conduct, governance, or financial position.
At the same time, the bank has taken action internally. It has terminated three senior employees after an internal investigation into issues at its Dubai branch.
The gold rate today is around Rs 1.5 lakh per 10 grams for 24-carat gold, while 22-carat gold is near Rs 1.4 lakh, with prices edging higher after recent losses. Silver is also seeing a slight uptick after a volatile phase.
Early indicators suggest a positive start. GIFT Nifty futures were trading at 23,250.5 at around 08:24 am, indicating that the Nifty 50 may open above Thursday's close of 23,002.15.
With multiple energy hubs under threat, the risk to global supply chains has increased sharply. For countries like India, which depend heavily on imports, this means higher costs and tighter supply in the near term.
In a statement, the central bank said it has taken note of the recent developments at HDFC Bank and has approved the transition arrangement proposed by the bank for the position of part-time chairman.
Global brokerage JPMorgan has maintained a "neutral" rating on the stock with a price target of Rs 1,090. HDFC Bank stock is already trading near its 52-week low, adding to weak sentiment around the counter.
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