India's HDFC Bank falls; Jefferies says CEO clarity could spur valuation rerating

HDFC Bank

28/09/2026 05:37

** Shares of HDFC Bank HDBK.NS down 1.71% at 722.85 rupees
** Jefferies maintains "buy" on HDBK with a PT of 880 rupees and says clarity on the bank's next CEO could help drive a valuation rerating
** A quick management reorganisation after the CEO appointment, followed by stronger execution, could help restore earnings momentum, Jefferies says 
** Brokerage says a shift in loan mix toward higher risk-adjusted segments, including SME, business banking, gold and unsecured personal loans, could support margins and ROA
** Forty analysts have a "buy" rating on avg; median PT is 976 rupees - data compiled by LSEG
** HDBK stock down ~27%, YTD



 (Reporting by Urvi Dugar in Bengaluru)
 ((UrviManoj.Dugar@thomsonreuters.com;))