HDFC Bank large trade: Rs 1,756 crore equity stake changes hands; stock falls 1.5%, extends losing streak

HDFC Bank

• HDFC Bank shares fell 1.44 percent after a Rs 1,756 crore stake sale
• Stock has dropped nearly 3.9 percent over the past two sessions
• Brokerages flagged slower deposit growth despite healthy advances momentum

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HDFC Bank shares extended their recent decline on Wednesday after a about 0.1 percent of the bank's equity stake was sold for a transaction value of Rs 1,756 crore in a large trade. As many as 1.84 crore shares of HDFC Bank changed hands at an average price of around Rs 950 per share.

The stock was trading at Rs 948.35, down 1.44 percent in intraday trade, adding to sharp losses over the past two sessions. HDFC Bank shares had fallen 1.6 percent on Tuesday and 2.4 percent on Monday, taking the cumulative price decline over the last two days to nearly 3.9 percent, before today’s fall.

The recent weakness in the stock follows the lender’s Q3 FY26 business update, after which HDFC Bank emerged as one of the top drags on the benchmark indices. The stock slipped to its lowest level in more than three months earlier this week, reflecting investor caution despite steady headline growth numbers.

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In its provisional update, HDFC Bank reported a 9 percent year-on-year rise in average advances under management to Rs 28.64 lakh crore in the December quarter, compared with Rs 26.28 lakh crore a year ago. Period-end advances under management rose 9.8 percent year-on-year to Rs 29.46 lakh crore, while gross advances grew 11.9 percent year-on-year to Rs 25.43 lakh crore.

However, brokerages flagged concerns around the pace of deposit accretion. While Motilal Oswal Financial Services retained a ‘Buy’ rating on the stock, citing healthy momentum in advances growth, analysts at Nomura pointed to slower deposit growth, noting that the credit-deposit ratio climbed close to 100 percent during the quarter. According to Nomura, stronger deposit inflows would be required for HDFC Bank to meaningfully accelerate loan growth in coming quarters.

Despite the recent correction, HDFC Bank’s stock is up about 10.7 percent over the past year, marginally outperforming the Nifty 50. The bank’s market capitalisation currently stands at around Rs 14.58 lakh crore.

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