HDFC Bank Share Price Today: HDFC Bank shares on Monday (Jan 19) traded flat in early morning deals following the announcement of quarterly results (Q3
FY2026) wherein the lender reported 12 per cent increase in the consolidated profit. At 9:35 AM, HDFC Bank shares were trading 0.30 per cent higher at Rs 934. Post Q3 results, brokerages are bullish on HDFC Bank, saying the largest private sector lender reported in line numbers in the December 2025 quarter.
HDFC Bank Gets Rs 1200 Target From Citi
Citi said that Q3 was steady for HDFC Bank and maintained buy rating for target of Rs 1,200. It said that HDFC Bank's NIM expanded 8 bps aided by a lower cost of funds. The management has reiterated confidence in outperforming system loan growth in FY27.
The loan-to-deposit Ratio (LDR) remains elevated but manageable, with a clear glide path supported by deposits acceleration, it said. The asset quality, Citi said, remains pristine, with credit costs guided at 50-55 bps.
HDFC Bank: MOSL Sets Rs 1175 Target
MOSL has maintained buy rating on HDFC Bank after Q3 results with an unchanged target of Rs 1,175. It said that the lender reported in-line earnings.
The growth outlook, it said, remains healthy and asset quality continues to be robust. The management expects loan growth to outpace system growth in FY27 with LDR guided to moderate to 90 per cent by the next financial year.
The brokerage has fine-tuned earning, with FY27E RoA and RoE projects at 1.9 per cent and 14.5 per cent, respectively.
HDFC Bank Stock: Outperform Rating From Bernstein
Bernstein has maintained Outperform rating on HDFC Bank with a target price of Rs 1,200. It noted that Q3 was steady, with constructive commentary and clear improvement in credit growth momentum.
The management has reiterated guidance of system-level loan growth in FY26 and faster-than-system growth in FY27. It noted that HDFC Bank's deposit strategy remains granular, with strong discipline and limited reliance on bulk deposits.
It noted that asset quality remains pristine, with no emerging stress across portfolio and that the branch network productivity is improving, supporting long-term, deposit-led growth without aggressive expansion.
HDFC Bank Q3 Results FY2026
In the December 2025 quarter (Q2 FY2026), HDFC Bank reported 12.17 per cent YoY jump in its consolidated profit to Rs 19,807 crore. The lender had reported a consolidated net profit of Rs 17,657 crore in the year-ago period and Rs 19,611 crore in the preceding September quarter.
On a standalone basis, HDFC Bank's profit increased 11.46 per cent to Rs 18,653.75 crore for the October-December period.
HDFC Bank, which is the country's largest private sector lender, said that its core net interest income grew 6.4 per cent to Rs 32,600 crore in the quarter under review, while the non-interest income came at Rs 13,250 crore. The net interest margin at the overall level stood at 3.35 per cent.
Implementation of the new labour codes led to an impact of Rs 800 crore in expenses for the bank during the quarter.
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