HDFC Bank shares rose 2.86% on Tuesday, 3 November 2026. By 11:04 am IST, the stock traded at ₹720.00 on the National Stock Exchange (NSE). That is ₹20 more than Monday's close of ₹700.00, according to The Hindu BusinessLine.
The rise comes in a hard year for India's largest private lender. The stock is still far below where it started 2026. A senior leader who helped build its small business lending also retired last week.
What happened
The wider market was strong on Tuesday. The Sensex jumped 960 points and the Nifty 50 touched 23,700, according to The Hindu BusinessLine's live market report. HDFC Bank and IndiGo led the gainers. You can read why IndiGo shares rose as oil prices fell in our separate story.
HDFC Bank opened at ₹708.00. It climbed to a high of ₹721.30 during the day. Its lowest price in the morning was ₹706.05. So the stock stayed above Monday's close for the whole morning session.
The numbers
| Item | Figure |
|---|---|
| Monday's closing price | ₹700.00 |
| Tuesday's opening price | ₹708.00 |
| Price at 11:04 am | ₹720.00 |
| Day's high / low (morning) | ₹721.30 / ₹706.05 |
| Shares traded by mid-session | 146.96 lakh |
| Value traded by mid-session | ₹1,051.91 crore |
| Value traded on Monday | ₹718.40 crore |
| Deliverable quantity | 60.49% |
| Market capitalisation | ₹11,11,336.95 crore |
| P/E ratio (adjusted) | 13.48 (13.29); Monday 13.34 |
This table shows Tuesday's trading figures for HDFC Bank, as reported by The Hindu BusinessLine.
Three points stand out. First, trading was busy. The value of shares traded by mid-session was already higher than Monday's figure.
Second, deliverable quantity was 60.49%. In simple words, about six in ten shares traded were actually taken into demat accounts. They were not bought and sold within the same day.
Third, the order book was tilted towards sellers. Pending sell orders were 68.82%, against 31.21% for buy orders. The Hindu BusinessLine said this shows selling pressure did not go away, even as buyers pushed the price up.
A tough year so far
Even after Tuesday's gain, the stock is well down in 2026. But the two reports give different numbers. The Hindu BusinessLine says the stock is down 27.32% year-to-date. It compares this with a 9.55% fall in the Nifty 50. Livemint says the fall is around 29%. We could not confirm which figure is right. Readers can check the latest price data on the NSE or BSE website.
The stock hit a 52-week low of ₹669.20 on 28 October, just last week. Tuesday's price of ₹720 is ₹50.80, or about 7.6%, above that low (our calculation).
Why has the stock been weak? According to Livemint, investors are judging three things: how fast the bank is growing, how its margins are doing and changes in its leadership.
Senior executive Sanjay D'Souza retires
HDFC Bank told the stock exchanges that Sanjay D'Souza retired on superannuation from 31 October, Livemint reported. He stepped down at the close of business that day.
D'Souza was Group Head – Business Banking, Emerging & Micro Enterprises Group. He was part of senior management and spent nearly 27 years with the bank. He joined in December 1999.
The bank called him one of the key architects of its small and medium enterprise (SME) business. It said that under his leadership, the bank built a strong position in this area.
Livemint, citing a 2025 Board Stewardship report, said he worked in retail credit, wholesale credit and the emerging enterprise group. He headed the Emerging Enterprises Group from October 2016. He took extra charge of the Micro Enterprises Group in February 2024. The reports so far do not say who will take over his role.
What Anand Rathi said
Brokerage Anand Rathi has kept its 'Buy' rating on HDFC Bank with a target price of ₹966 per share, according to Livemint. It pointed to reasonable valuations and helpful trends in the banking sector.
The target is ₹246, or about 34%, above Tuesday's ₹720 price (our calculation). But a target price is only one brokerage's opinion. It is not a promise, and stocks often miss such targets.
Anand Rathi also gave a word of caution. It believes HDFC Bank still has a long road ahead to catch up with ICICI Bank on loan growth, net interest margin (NIM) and return on equity (RoE).
The banking sector mood
Banks as a group were strong on Tuesday. The Bank Nifty opened with a jump near 55,436, according to The Hindu BusinessLine. It crossed a level around 55,200 where it had often stalled before. By mid-session, it traded at 55,002.
The same report noted that the Relative Strength Index (RSI) rose to around 52. It placed the next resistance at 55,330–55,600 and support at 54,740–54,500. These are chart-based views, not certain outcomes.
Other bank news is also in focus this week. See what brokerages expect from SBI's Q2 results today and our Kotak Mahindra Bank Q2 preview.
Risks to keep in mind
- One good day is not a trend. The stock is still down sharply in 2026 and touched a 52-week low only last week.
- Sellers still lead. The order book showed far more sell orders than buy orders on Tuesday.
- Leadership change. A long-serving head of small business lending has left. How smoothly his work is handed over matters.
- Gap with rivals. Anand Rathi itself says the bank lags ICICI Bank on loan growth, margins and RoE.
What to watch next
- Whether the stock stays above its 52-week low of ₹669.20.
- Any news from the bank on who will lead its SME and micro enterprise business.
- Updates on loan growth and margins, the points investors are watching closely.
- Results from other banks this week, which may shape the mood for the whole sector.
Words explained
- Nifty 50: An index that tracks 50 large companies on the NSE. It shows how big stocks are doing overall.
- Bank Nifty: An index of major listed banks. It shows how bank shares are doing as a group.
- Year-to-date: The change from the start of the year until today.
- 52-week low: The lowest price of a stock in the past one year.
- Market capitalisation: The total value of all of a company's shares. It equals share price multiplied by the number of shares.
- P/E ratio: Share price divided by yearly profit per share. A P/E of 13.48 means investors pay about ₹13.48 for every ₹1 of yearly profit.
- Deliverable quantity: The share of traded stock that buyers actually took into their demat accounts, instead of selling the same day.
- Superannuation: Retiring on reaching the set retirement age.
- SME: Small and medium enterprises, such as a local factory or a trading firm.
- Target price: The price a brokerage thinks a stock may reach in some time. It is an opinion, not a promise.
- Net interest margin (NIM): What a bank earns on loans minus what it pays on deposits, shown as a percentage. Higher NIM means more earning from each rupee lent.
- Return on equity (RoE): How much profit a company makes on its owners' money. An RoE of 15% means ₹15 profit for every ₹100 of owners' money.
- RSI: Relative Strength Index, a chart tool from 0 to 100. Around 50 is seen as neutral.
- Resistance and support: Price levels where a stock or index has often stopped rising (resistance) or stopped falling (support) before.
For more on how indices and sectors move, visit our Markets section.
Sources: The Hindu BusinessLine, Livemint.
This article is for information and education only. It is not investment advice. MarketUpDown is not registered with SEBI as an investment adviser or research analyst. Read our disclaimer.