HDFC Bank Limited’s stock is starting the new week hovering around the psychologically important ₹1,000 mark, with fresh Q2 FY26 numbers, an RBI rate cut and a recent regulatory penalty all shaping sentiment. Here’s a deep dive into where the share stands today (8 December 2025), what’s driving it, and how analysts are valuing India’s largest private-sector lender.
HDFC Bank share price today: near ₹1,000, close to 52‑week highs
On the NSE
- As of late morning trade on 8 December 2025, HDFC Bank was quoted around ₹1,003 per share, with an intraday range of roughly ₹997.8–₹1,004.1 on the BSE. [1]
- The 52‑week range currently stands at about ₹812–₹1,020, putting today’s price close to the upper end of that band. [2]
- A liveblog from The Economic Times at 10:28 am IST pegged the last traded price at ₹1,002–1,004, with:
- P/E ratio around 21–21.5x,
- EPS near ₹47, and
- market capitalisation around ₹15.4 trillion. [3]
On a trailing basis, Livemint data shows HDFC Bank has delivered about 13–14% gains in 2025 year‑to‑date, while the past 5 trading days have been roughly flat to slightly negative. [4]
ADR (HDB) in New York
- The NYSE‑listed ADR, HDB, last closed at about $35.7 on 5 December 2025, according to Macrotrends and exchange data. [5]
- MarketBeat quotes the same closing region and reports extended-hours trading marginally higher around $35.9. [6]
In short: on 8 December, the India line is consolidating just under its recent highs, while the ADR trades in the mid‑$30s after a solid rebound from earlier lows.
Fresh news on 8 December 2025: HDFC Bank in the spotlight
1. Meyka: “50% share surge” and AI‑driven outlook
Alternative data platform Meyka published a same‑day piece titled “HDFC Bank News Today, Dec 8: Analyzing the 50% Share Surge.” It frames HDFC Bank as a banking-sector leader that has rallied sharply from prior lows, describing: [7]
- A current share price reference of ₹1,003.3 (as of 5 December).
- Year‑to‑date gain a little over 10%, consistent with mainstream data. [8]
- Key ratios, including:
- P/E ~23x,
- ROE ~13.7%,
- debt‑to‑equity ~1.1,
- and net margin around the mid‑teens. [9]
Meyka’s AI module labels the stock a “HOLD”, with a near‑term price projection around ₹1,034, implying low‑single‑digit upside from current levels. [10]
So the alt‑data crowd is basically saying: fundamentals look solid, the big rerating has already happened, and the near‑term upside may be modest rather than explosive.
2. Economic Times liveblog: quiet session, healthy fundamentals
The Economic Times is running a liveblog on HDFC Bank’s stock on 8 December. As of their 10:28 am IST update, they highlight: [11]
- LTP (last traded price) ~₹1,002–1,004, down only about 0.1% intraday.
- A 3‑day simple moving average around ₹986, showing the stock has recently pushed above its very short‑term averages.
- P/E ~21.3x and EPS ~₹47, broadly in line with other databases.
The tone is neutral: the liveblog emphasises real‑time ticks and basic fundamentals, not any new stock‑specific catalyst.
3. Financial Express “Monday Watchlist”: banks to lead early‑week moves
In a 8 December “Monday Watchlist”, The Financial Express flags HDFC Bank, along with SBI, Kotak and ICICI, as likely leaders of any early‑week upside in the Nifty Bank and Nifty Financial Services indices. [12]
However, the same piece rings some short‑term alarm bells:
- The Nifty Bank weekly chart is showing a “Hanging Man” pattern and near‑overbought RSI, suggesting fatigue after the recent rally. [13]
- The strategist expects initial strength in large private banks (including HDFC Bank) but warns that selling pressure and profit‑taking may emerge later in the week. [14]
So the technical camp sees HDFC Bank as one of the prime vehicles for traders: leadership early, but vulnerability to a shake‑out if markets wobble.
Macro backdrop: RBI rate cut, D‑SIB reaffirmation and a small penalty
1. RBI cuts repo rate to 5.25% and boosts liquidity
On 5 December 2025, the Reserve Bank of India (RBI):
- Cut the repo rate by 25 bps to 5.25%,
- And announced liquidity‑boosting measures (bond purchases and swaps) of up to about $16 billion equivalent, citing a “goldilocks economy” with strong growth and ultra‑low inflation. [15]
Economists highlighted:
- Retail inflation around 0.25% in October,
- Q2 FY26 GDP growth near 8.2%,
- RBI’s scope for further easing if inflation stays below target. [16]
For HDFC Bank, this cocktail usually means:
- Short‑term margin pressure (loan yields reset faster than deposit costs fall),
- But medium‑term support as funding costs drift lower and credit demand stays buoyant.
That dovetails with what we saw in Q2: robust growth but squeezed margins (we’ll get to that in a minute).
2. HDFC Bank reaffirmed as a “systemically important bank”
On 2 December 2025, RBI again named HDFC Bank, SBI and ICICI Bank as Domestic Systemically Important Banks (D‑SIBs). [17]
Key points:
- HDFC Bank must maintain an additional CET1 (core equity) buffer of 0.4% over and above the standard capital conservation buffer.
- This surcharge level has been in force since April 2025, up from 0.2% previously. [18]
Practically, this underlines two things for investors:
- Importance – HDFC Bank is officially “too big to fail” in the Indian context.
- Resilience – the bank is already running with a capital adequacy ratio around 20% and CET1 near 17.5%, well above regulatory thresholds. [19]
3. RBI penalty of ₹91 lakh: small number, still a headline
On 29 November 2025, Business Today reported that RBI has imposed a monetary penalty of ₹91 lakh on HDFC Bank for certain regulatory breaches, including: [20]
- Non‑adherence to interest‑rate directions on advances,
- Issues around outsourcing risk management and conduct,
- And some lapses linked to KYC directions.
The bank has said it has already implemented corrective actions, including fixes at subsidiary HDB Financial Services. [21]
In context:
- The fine is tiny relative to quarterly profits of over ₹18,000–20,000 crore, [22]
- But it’s not zero from a compliance‑risk perspective. For a bank this size, the signal is “keep your processes tight, because the regulator is watching.”
Q2 FY26 results: strong profit, slower NIMs, clean book
HDFC Bank’s latest reported quarter is Q2 FY26 (quarter ended September 2025), released on 18 October 2025.
Profit and revenue
Across various disclosures and news reports: [23]
- Standalone PAT was about ₹18,641 crore, up ~10.8–11% YoY, beating analyst estimates.
- Consolidated net profit is around ₹20,364 crore, growing about 9.3% YoY.
- Net interest income (NII) grew ~4.8% YoY to roughly ₹31,550 crore.
- Non‑interest income jumped about 25% YoY to ₹14,350 crore, helped by a spike in trading and fee income.
So earnings growth is comfortably high‑single to low‑double digits, but NII is clearly expanding more slowly than the loan book.
Margins and loan/deposit growth
The main point of discomfort for some analysts is net interest margin (NIM):
- NIM in Q2 FY26 came in around 3.3%,
- Down from about 3.5% a year earlier and 3.4% in Q1 FY26. [24]
On the flip side:
- Loan book grew around 9.9% YoY, with stronger traction in small/mid‑business lending and retail. [25]
- Deposits rose roughly 12% YoY, with retail deposits now about 83% of the mix, indicating a sticky, granular liability base. [26]
In other words: growth is solid, but the bank is intentionally not overpaying for deposits, which temporarily crimps NIMs while preserving long‑term profitability.
Asset quality and capital
Q2 FY26 also reaffirmed HDFC Bank’s reputation for a clean book: [27]
- Gross NPA ratio improved to about 1.24% (from 1.40% in Q1 FY26).
- Net NPA is around 0.4–0.42%.
- Return on assets (RoA) sits near 1.9%, and ROE around 14.4%.
- Capital adequacy ratio ~20%, with CET1 ~17.5%, comfortably above both basic and D‑SIB buffers.
Broker research (for example, a Business Standard‑hosted note) notes that slippages have moderated, provisions have normalised after one‑offs, and calculated credit costs are at low levels by Indian standards. [28]
The takeaway: Q2 confirms HDFC Bank is in a “margin adjustment phase”, not a credit‑quality scare.
Valuation check: quality at a premium – but with some “value” angles
Domestic multiples
Putting together data from Mint, Moneycontrol and the liveblog: [29]
- Share price (8 December intraday): ~₹1,000.
- TTM EPS: around ₹47.
- Trailing P/E: about 20–22x, depending on the source.
- Livemint notes the sector average P/E for banks is closer to 9x, underlining that HDFC still trades at a substantial premium to most peers. [30]
- Market cap sits around ₹15.4 trillion, making it one of India’s most valuable financial institutions. [31]
Interestingly, some quant/intrinsic‑value tools see room for re‑rating:
- Smart‑Investing’s DCF‑style model suggests HDFC Bank is trading at about a 16% discount to its “median intrinsic value.” [32]
So depending on which lens you use, HDFC looks either like:
- A high‑quality compounder at a justifiable premium, or
- A mildly undervalued blue‑chip in a market that has rerated many other financials even more aggressively.
Global ADR perspective
For the ADR HDB:
- MarketBeat shows a “Moderate Buy” consensus based on four recent Wall Street ratings – 2 hold, 1 buy, 1 strong buy. [33]
- Other US data providers (like Zacks) put the average ADR 12‑month target in the mid‑$40s, implying mid‑teens upside from the current mid‑$30s price region. [34]
The overseas narrative largely mirrors the domestic one: great bank, minor margin concerns, priced neither dirt‑cheap nor wildly expensive.
Analyst targets and forecasts as of early December 2025
India‑focused consensus
Several aggregators give a fairly consistent story:
- Trendlyne:
- Average target: ~₹1,125 per share,
- Based on 27 reports from 10 analysts,
- Implied upside ~12% from ~₹1,003. [35]
- Investing.com (India ticker):
- 39 analysts in the sample,
- Average 12‑month target around ₹1,164 (range roughly ₹1,046–₹1,400),
- Overall “Strong Buy” consensus – 36 “buy”, 3 “hold”, zero “sell.” [36]
- Livemint’s stock page counts 38 analysts on coverage, with 35 of them (17 “strong buy” + 18 “buy”) still positive, reinforcing the bullish tilt. [37]
And Macquarie, in a late‑November strategy wrap, reiterated “Outperform” on HDFC Bank with a ₹1,200 target, arguing that: [38]
- Management guidance is for loan growth to run ahead of the system by FY27,
- Provisioning buffers are strong, and
- New expected‑credit‑loss norms are not expected to materially disrupt earnings.
Put together, most mainstream research houses are pencilling in low‑to‑mid‑teens upside over 12 months, assuming no nasty surprises on margins or asset quality.
Alternative data & AI forecasts
The Meyka article mentioned earlier takes a slightly more tempered angle:
- HOLD stance,
- Short‑term forecast near ₹1,034,
- Emphasis on already‑strong price performance and solid but not explosive projected gains. [39]
This doesn’t contradict broker research; it just suggests that most of the “easy” rerating may already be in the price, leaving more incremental, earnings‑driven upside from here.
Key risks investors are watching
Even with broadly bullish consensus, a few fault lines show up repeatedly in research and media coverage:
- Net interest margin (NIM) pressure
- Regulatory and compliance scrutiny
- The ₹91 lakh penalty is financially trivial but emphasises that RBI is ready to act on interest‑rate practices, outsourcing conduct and KYC lapses. [42]
- With HDFC Group entities under the microscope post‑merger, consistent process discipline is non‑negotiable.
- Valuation risk
- At ~20–22x trailing earnings, HDFC Bank trades at more than double the sector P/E, even if models like Smart‑Investing argue for undervaluation versus intrinsic value. [43]
- Any growth disappointment – or a fresh round of margin compression – could quickly trigger a de‑rating.
- Macro & competitive landscape
- While GDP is strong and inflation is unusually low, analysts flagged that part of RBI’s shift reflects concern about slower growth ahead and external‑sector risks. [44]
- Other private banks (ICICI, Axis, Kotak) are aggressively chasing the same high‑quality borrowers, so pricing discipline vs market share will remain a strategic balancing act.
Bottom line on 8 December 2025
As of 8 December 2025, HDFC Bank’s stock is:
- Trading around ₹1,000, not far from its 52‑week high,
- Supported by double‑digit profit growth, excellent asset quality and strong capital,
- Benefiting from an RBI easing cycle and a reaffirmed D‑SIB status,
- Yet facing ongoing NIM pressure and ever‑present regulatory scrutiny,
- And valued at a premium multiple, though most analysts still see low‑teens upside over 12 months.
For investors and traders scanning HDFC Bank stock today, the story is less “hidden gem” and more “high‑quality franchise in the middle of a classic banking‑cycle trade” – where the debate is not about survival, but about how much growth and margin you’re willing to pay for.
References
1. www.moneycontrol.com, 2. www.moneycontrol.com, 3. m.economictimes.com, 4. www.livemint.com, 5. www.macrotrends.net, 6. www.marketbeat.com, 7. meyka.com, 8. meyka.com, 9. meyka.com, 10. meyka.com, 11. m.economictimes.com, 12. www.financialexpress.com, 13. www.financialexpress.com, 14. www.financialexpress.com, 15. www.reuters.com, 16. www.forbesindia.com, 17. m.economictimes.com, 18. m.economictimes.com, 19. www.marketscreener.com, 20. www.businesstoday.in, 21. www.businesstoday.in, 22. www.livemint.com, 23. www.livemint.com, 24. www.business-standard.com, 25. www.reuters.com, 26. images.moneycontrol.com, 27. www.hdfcbank.com, 28. bsmedia.business-standard.com, 29. www.livemint.com, 30. www.livemint.com, 31. www.moneycontrol.com, 32. www.smart-investing.in, 33. www.marketbeat.com, 34. www.zacks.com, 35. trendlyne.com, 36. www.investing.com, 37. www.livemint.com, 38. timesofindia.indiatimes.com, 39. meyka.com, 40. www.business-standard.com, 41. www.reuters.com, 42. www.businesstoday.in, 43. www.livemint.com, 44. www.reuters.com
