HDFC Bank (HDFCBANK.NS) Stock Price
HDFC Bank Price
Over the last 19 years HDFC Bank grew revenue by 25.7% annually, reaching 2.87 T INR. Earnings per share have grown at 20.6% per year over the last 19 years. For HDFC Bank, the net margin of 24.7% is down versus 32.9% a few years ago. At today's price the dividend yield works out to roughly 1.92%. The payout ratio is around 29% of earnings. The dividend has grown at 22.7% per year over the past 19 years. The consensus 12-month price target for HDFC Bank is 1,193.40 INR, about 69.5% above where the stock trades today. Of 46 analysts, 42 rate the stock a buy — an overall Buy consensus.
HDFC Bank stock price
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Stock Price
ⓘHow to Read This Chart
This chart tracks the historical stock price of HDFC Bank over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.
Total Return vs. Price Return
The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.
Intraday Price Data
When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how HDFC Bank stock reacts to market openings, earnings releases, or breaking news throughout the trading session.
What to Look For
Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing HDFC Bank's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.
| Date | HDFC Bank Price |
|---|---|
| 9/8/2026 | 704.00 INR |
| 9/7/2026 | 709.80 INR |
| 9/4/2026 | 712.10 INR |
| 9/3/2026 | 706.65 INR |
| 9/2/2026 | 702.60 INR |
| 9/1/2026 | 711.90 INR |
| 8/31/2026 | 709.70 INR |
| 8/28/2026 | 720.30 INR |
| 8/27/2026 | 713.95 INR |
| 8/26/2026 | 727.20 INR |
| 8/25/2026 | 727.50 INR |
| 8/24/2026 | 729.00 INR |
| 8/21/2026 | 726.95 INR |
| 8/20/2026 | 725.05 INR |
| 8/19/2026 | 715.80 INR |
| 8/18/2026 | 723.00 INR |
| 8/17/2026 | 729.00 INR |
| 8/14/2026 | 727.00 INR |
| 8/13/2026 | 727.30 INR |
| 8/12/2026 | 729.00 INR |
| 8/11/2026 | 729.00 INR |
| 8/10/2026 | 731.00 INR |
| 8/7/2026 | 731.00 INR |
| 8/6/2026 | 734.30 INR |
| 8/5/2026 | 735.00 INR |
| 8/4/2026 | 747.20 INR |
| 7/31/2026 | 748.15 INR |
| 7/30/2026 | 748.00 INR |
| 7/29/2026 | 748.20 INR |
| 7/28/2026 | 736.75 INR |
HDFC Bank Revenue, Pre-Provision Profit, Net Income
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HDFC Bank Income Statement, Balance Sheet, Cash Flow Statement
| REVENUET INR |
|---|
| REVENUE GROWTH% |
| Net Interest IncomeT INR |
| Non-Interest IncomeT INR |
| Loan Loss ProvisionsB INR |
| Pre-Provision Profit (PPOP)T INR |
| NET INCOMET INR |
| NET INCOME GROWTH% |
| DIVIDENDDIV.INR |
| DIVIDEND GROWTHDIV. GROWTH% |
| SHARESB |
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026e | 2027e | 2028e | 2029e | 2030e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.60 | 0.74 | 0.86 | 1.01 | 1.24 | 1.47 | 1.56 | 1.68 | 2.05 | 4.08 | 4.71 | 1.92 | 2.01 | 2.30 | 2.64 | 3.09 |
| 18.41 | 23.52 | 15.83 | 17.64 | 22.46 | 18.50 | 6.00 | 7.58 | 22.05 | 99.35 | 15.42 | -59.17 | 4.29 | 14.91 | 14.65 | 17.00 |
| 0.23 | 0.29 | 0.35 | 0.43 | 0.51 | 0.60 | 0.69 | 0.77 | 0.93 | 1.30 | 1.52 | – | – | – | – | – |
| 0.10 | 0.11 | 0.13 | 0.16 | 0.19 | 0.25 | 0.27 | 0.32 | 0.34 | 1.24 | 1.35 | – | – | – | – | – |
| 18.68 | 23.44 | 35.03 | 54.84 | 71.92 | 106.35 | 135.75 | 125.01 | 135.58 | 125.32 | 155.44 | – | – | – | – | – |
| 0.18 | 0.22 | 0.27 | 0.34 | 0.42 | 0.49 | 0.56 | 0.63 | 0.75 | 0.89 | 1.12 | – | – | – | – | – |
| 0.11 | 0.13 | 0.15 | 0.19 | 0.22 | 0.27 | 0.32 | 0.38 | 0.46 | 0.64 | 0.71 | 0.74 | 0.81 | 0.95 | 1.11 | 1.32 |
| 22.25 | 19.76 | 19.15 | 21.35 | 20.65 | 22.04 | 16.80 | 19.54 | 20.88 | 39.27 | 10.51 | 5.09 | 9.44 | 16.54 | 16.76 | 18.83 |
| 2.00 | 2.38 | 2.75 | 3.25 | 5.00 | 5.00 | 3.25 | 7.75 | 9.50 | 9.75 | 13.50 | 27.00 | 32.40 | 38.88 | – | – |
| 16.96 | 19.00 | 15.55 | 18.18 | 53.85 | – | -35.00 | 138.46 | 22.58 | 2.63 | 38.46 | 100.00 | 20.00 | 20.00 | – | – |
| 9.81 | 10.19 | 10.31 | 10.46 | 10.83 | 11.02 | 11.05 | 11.14 | 11.18 | 14.23 | 15.32 | 15.32 | 15.32 | 15.32 | 15.32 | 15.32 |
Details
Income Statement Key Figures
ⓘRevenue and Revenue Growth
Revenue is the starting point of every income statement — it measures the total sales HDFC Bank generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.
Gross Margin
Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue HDFC Bank retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare HDFC Bank's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.
EBIT and EBIT Margin
EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.
Net Income and Earnings Per Share (EPS)
Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.
Shares Outstanding
The total number of shares HDFC Bank has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.
Analyst Estimates
The projected figures represent consensus estimates from professional analysts. Compare these forecasts against HDFC Bank's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.
HDFC Bank stock margins
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HDFC Bank Revenue per Share, Earnings per Share
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HDFC Bank business model & stock analysis
HDFC Bank SWOT Analysis
Strengths
1. Established brand name and reputation in the banking industry.
2. Strong financial performance with consistent profitability and growth.
3. Extensive range of banking products and services catering to diverse customer needs.
Weaknesses
1. Relatively higher interest rates compared to some competitors.
2. Limited international presence compared to global banking giants.
3. Overreliance on Indian market, thus susceptible to domestic economic fluctuations.
Opportunities
1. Expanding presence in rural and underbanked areas of India to tap into untapped markets.
2. Embracing technological advancements to enhance digital banking capabilities.
3. Potential growth through strategic partnerships or mergers/acquisitions.
Threats
1. Intense competition from both domestic and international banks.
2. Regulatory changes impacting banking operations and profitability.
3. Economic downturns leading to reduced customer spending and loan defaults.
HDFC Bank Eulerpool Fair Value
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Fair Value Estimate
ⓘWhat Is Fair Value?
Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.
Earnings-Based Fair Value
Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.
Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021
Revenue-Based Fair Value
Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"
Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021
Dividend-Based Fair Value
Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.
Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021
How to Use This Chart
When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.
HDFC Bank historical P/E ratio, EBIT multiple, and P/S ratio
HDFC Bank annual returns
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Annual Return
ⓘWhat This Chart Shows
This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.
Price Return
Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.
Dividend Return
Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.
What to Look For
Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.
HDFC Bank shares outstanding
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HDFC Bank stock splits
HDFC Bank Dividend History
29 years of dividend payments · 4 consecutive increases
HDFC Bank dividend history and estimates
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HDFC Bank dividend payout ratio
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Current HDFC Bank forecasts and price targets in September 2026
Analyst Price Targets 2026HDFC Bank Analyst Rating Actions
| Date | Firm | Action | Rating | Reliability |
|---|---|---|---|---|
| 9/9/2019 | Downgrade | OutperformPerform | 55 | |
| 9/8/2019 | Downgrade | OutperformMarket Perform | 55 | |
| 6/10/2019 | Downgrade | BuyNeutral | – | |
| 3/20/2017 | Downgrade | OverweightEqual Weight | 51 | |
| 9/13/2016 | Maintained | Buy | 60 |
Eulerpool Reliability Score (0–100): measures how often a firm’s bullish or bearish calls were directionally correct three months later, blended with the average return following its calls. Every rating we record is stored permanently and scores update continuously; firms with fewer than 3 measured calls are not scored yet.
HDFC Bank Earnings Calls
HDFC Bank Earnings Estimates & Surprises
| Date | EPS estimate | EPS Actual | Revenue Estimate | Price reaction | Quarterly report |
|---|---|---|---|---|---|
| 4/13/2024 | 23.28INR | - | 446.12 BINR | - | 2024 Q4 |
| 1/12/2024 | 25.87INR | - | 419.57 BINR | - | 2024 Q3 |
| 7/14/2023 | 21.63INR | - | -INR | - | 2024 Q1 |
| 4/14/2023 | 22.22INR | - | 332.75 BINR | - | 2023 Q4 |
| 1/13/2023 | 21.71INR | - | 311.19 BINR | - | 2023 Q3 |
| 10/14/2022 | 20.02INR | - | 270.04 BINR | - | 2023 Q2 |
| 7/16/2022 | 17.14INR | - | 270.58 BINR | - | 2023 Q1 |
| 4/16/2022 | 18.51INR | - | 256.50 BINR | - | 2022 Q4 |
| 1/17/2022 | 18.79INR | - | 270.28 BINR | - | 2022 Q3 |
| 10/16/2021 | 16.27INR | - | 252.45 BINR | - | 2022 Q2 |
EESG©
Eulerpool ESG Scorecard© for the HDFC Bank stock
EEnvironment
20
Environment
SSocial
20
Social
GGovernance (Corporate Governance)
4
Governance (Corporate Governance)
The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.
HDFC Bank shareholder structure
| % | Name |
|---|---|
1.23216% | |
0.95451% | |
0.93084% | |
0.87335% | |
0.62112% | |
0.43818% |
HDFC Bank Beneficial Ownership Filings (SEC 13D/G)
HDFC Bank Executives and Management Board
40 members · avg. age 58 · 13 % women
Mr. Kaizad Bharucha
Deputy Managing Director, Executive Director
111.29 M INR
Management
Mr. Sashidhar Jagdishan (59)
Chief Executive Officer, Managing Director, Executive Director
Mr. Srinivasan Vaidyanathan (60)
Chief Financial Officer
Mr. Vinay Razdan (57)
Chief Human Resource Officer
Mr. Ramesh Lakshminarayanan (53)
Chief Information Officer
Mr. Ravi Santhanam
Chief Marketing Officer, Head - Direct to Consumer Business
Mr. Ajay Agarwal
Compliance Officer, Company Secretary
Board of Directors
Mr. Bhavesh Zaveri (58)
Executive Director - Operations, ATM and Administration · since 2007
Mr. V. Srinivasa Rangan
Executive Director - Legal and Secretarial, Fraud and Vigilance, Ethics Office, Information Security Group, Group Oversight Department · since 2023
Mr. Sandeep Parekh (52)
Non-Executive Independent Director
Mr. Mavinakere Ranganath (62)
Non-Executive Independent Director
Shri. Atanu Chakraborty (64)
Part Time Non-Executive Independent Chairman of the Board
Ms. Renu Karnad (71)
Additional Non-Executive Non-Independent Director · since 2023
Frequently asked questions about HDFC Bank
The business model of HDFC Bank Ltd revolves around offering a wide array of banking and financial services to both retail and corporate customers. As one of India's leading private sector banks, HDFC Bank provides various products and services such as personal banking, wholesale banking, treasury operations, and credit cards. The bank focuses on delivering superior customer experience through its extensive branch network, digital banking platforms, and innovative offerings. HDFC Bank emphasizes technology-driven solutions and robust risk management practices to maintain its position as a trusted and efficient financial institution in India.
HDFC Bank Ltd is primarily active in the banking and financial services industry. As one of the largest private sector banks in India, HDFC Bank offers a wide range of financial products and services including retail banking, corporate banking, and treasury operations. With its extensive network of branches and digital banking solutions, HDFC Bank caters to various segments such as individuals, businesses, and government entities. The bank also provides services like loans, investments, insurance, and credit cards, making it a prominent player in the Indian banking sector.
The main competitors of HDFC Bank Ltd in the market are ICICI Bank, State Bank of India (SBI), Axis Bank, and Kotak Mahindra Bank.
HDFC Bank Ltd, established in 1994, is one of India's leading private sector banks. It was incorporated as a scheduled commercial bank under the Companies Act, 1956. HDFC Bank emerged as a joint venture between Housing Development Finance Corporation Limited (HDFC) and a subsidiary of the Industrial Credit and Investment Corporation of India (ICICI). The bank focuses on providing a wide range of banking and financial services, including retail and wholesale banking, treasury operations, and more, to individuals and businesses alike. Over the years, HDFC Bank has gained recognition for its robust financial performance, innovative product offerings, and customer-centric approach. It has achieved numerous accolades and established a strong presence in the Indian banking sector.
HDFC Bank Ltd has achieved several significant milestones throughout its history. Since its establishment in 1994, HDFC Bank has grown to become one of India's leading financial institutions. Notable milestones include being the first private sector bank to be granted approval for the establishment of a bank in India, being the first bank in the country to launch an International Debit Card in association with VISA, and being the first bank in India to launch an International Credit Card in association with MasterCard. Furthermore, HDFC Bank has consistently been recognized as one of the top banks in India and has received numerous awards for its excellent banking services and customer satisfaction.
HDFC Bank Ltd primarily operates in India, serving customers across various regions and cities within the country. As India's largest private sector bank, HDFC Bank has an extensive network of branches and ATMs nationwide, allowing them to cater to a wide customer base across different states and territories. With a strong presence in metropolitan areas like Mumbai, Delhi, Chennai, Kolkata, and Bangalore, HDFC Bank has established itself as a leader in the Indian banking sector.
HDFC Bank Ltd represents a strong set of values and a robust corporate philosophy. The company's core values include trust, customer-centricity, operational excellence, innovation, and a focus on sustainability. With a commitment to delivering trusted and efficient banking services, HDFC Bank ensures that it maintains the highest standards of integrity and transparency in its operations. The bank's corporate philosophy revolves around building long-term relationships with customers, employees, and stakeholders, driven by a relentless pursuit of excellence. By consistently delivering superior financial solutions and embracing technology innovations, HDFC Bank has established itself as a leading player in the banking industry.
Analysts currently set an average price target of 1,179.81 INR for the HDFC Bank stock (median: 1,193.40 INR), implying +66.2 % versus the latest price. The consensus is based on 46 analyst ratings.
46 analysts currently rate the HDFC Bank stock: 42 recommend buying, 4 holding and 0 selling. For 2026, analysts expect HDFC Bank to generate revenue of 1.92 T INR and earnings per share of 48.55 INR.
Converted at the current exchange rate, the HDFC Bank share trades at 6.41 EUR (704.00 INR).
HDFC Bank Limited is an Indian bank that was founded in 1994. It is one of the largest banks in the country and now has over 5,000 branches. The bank's business model includes various business areas, which are described in detail below. One important business area of the bank is retail banking. Here, HDFC Bank Ltd offers a wide range of products and services for retail customers. These include current accounts, savings and term deposits, credit cards, online banking, and mobile banking. The bank also offers insurance and investment products such as stocks, funds, and bonds. Another important business area is corporate banking. HDFC Bank Ltd provides customized solutions for companies and institutional clients. This includes corporate financing, leasing, trade financing, foreign exchange trading, and cash management. The bank also offers specialized solutions for different industries, such as the healthcare sector or information technology. A third business area of HDFC Bank Ltd is treasury management. This involves the management of financial investments and risks. The bank offers its customers a wide range of instruments, such as foreign exchange, interest rate swaps, and derivatives. Another important aspect of HDFC Bank Ltd's business model is digitization. The bank relies on modern technologies to provide its customers with an even better banking experience. This includes mobile payment solutions, e-commerce platforms, and artificial intelligence. Overall, HDFC Bank Ltd's business model is very diversified and offers customers a variety of products and services. The bank relies on state-of-the-art technologies to provide its customers with optimal banking experiences. Due to its broad positioning and strong market position, HDFC Bank Limited is one of India's most important banks and has the potential to play a significant role internationally.
The expected revenue of HDFC Bank is 1.92 T INR. This figure is based on current financial data and reflects the company's business performance.
The expected profit of HDFC Bank is 743.93 B INR. The net profit reflects the company's profitability after deducting all expenses.
The price-to-earnings ratio (P/E) of HDFC Bank is currently 14.50. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the HDFC Bank stock.
The price-to-sales ratio (P/S) of HDFC Bank is currently 5.61. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the HDFC Bank stock.
The Eulerpool Quality Score for HDFC Bank is 4/10.
The ISIN of HDFC Bank is INE040A01034. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.
The WKN of HDFC Bank is A2PR0R. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.
The ticker of HDFC Bank is HDFCBANK.NS. The ticker symbol is used to trade HDFC Bank shares on the stock exchange.
Over the past 12 months, HDFC Bank paid a dividend of 13.50 INR . This corresponds to a dividend yield of about 1.92 %. For the coming 12 months, HDFC Bank is expected to pay a dividend of 32.40 INR.
The current dividend yield of HDFC Bank is 1.92 %.
HDFC Bank pays a dividend, distributed in the months of , , , .
HDFC Bank paid dividends every year for the past 5 years.
For the upcoming 12 months, dividends amounting to 32.40 INR are expected. This corresponds to a dividend yield of 4.56 %.
HDFC Bank is assigned to the 'Finance' sector.
In the year 2025, HDFC Bank distributed 9.5 INR as dividends.
The dividends of HDFC Bank are distributed in INR.
HDFC Bank stock
HDFC Bank Peer Group
HDFC Bank Ticker
HDFC Bank FIGI
All fundamentals and in-depth analysis of HDFC Bank
Our stock analysis for HDFC Bank stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of HDFC Bank. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.