HDFC Bank Share Price: Shares jumped 3% due to Q1 business update and announcement of new chairman, brokerage expressed confidence

Read Desk. There was a strong rise in the shares of HDFC Bank, one of the largest banks in the private sector, on Monday (July 6). The bank’s shares rose nearly 3% during trading to Rs 825.10. The main reason for this rise is believed to be the bank’s strong Q1 Business Update and the appointment of a new chairman.

In the business update for April-June 2026 quarter, the bank has registered good year-on-year growth in almost all key business indicators including loans, deposits and CASA. After this, major brokerage houses also appeared bullish on the stock and maintained a positive stance for investors.

Bank business remained strong in Q1

According to HDFC Bank, the bank’s gross advances (total loans) increased to Rs 30.61 lakh crore in the June 2026 quarter, which is 15.4% higher than the same period last year.

At the same time, the total deposits of the bank also increased by 14.7% on annual basis to Rs 31.70 lakh crore. This shows that along with the loan growth of the bank, the deposits also remain strong.

Increase in time deposit and CASA also

Good growth was also recorded in the bank’s time deposits. It increased by 17.4% year-on-year to Rs 21.45 lakh crore.

Apart from this, Current Account and Savings Account (CASA) deposits also increased by 9.4% to Rs 10.25 lakh crore. The total advances under management increased to Rs 31.27 lakh crore, which is 12.4% more than last year.

Rajeev Kumar will be the new chairman of HDFC Bank

HDFC Bank has announced the appointment of Rajeev Kumar as the new part-time chairman. This appointment has been made about three months after the resignation of former chairman Atanu Chakraborty.

The bank’s board has also approved the appointment of Rajeev Kumar as Additional Independent Director. His tenure as Chairman will be for 3 years, while his tenure as Independent Director will be for 4 years.

However, his appointment as chairman will be effective after the approval of RBI. His appointment as Independent Director will be placed for the approval of the shareholders in the Annual General Meeting (AGM) of the bank to be held on August 5.

Why are brokerage houses bullish?

Major brokerage firms have maintained their positive stance on HDFC Bank after a strong business update. Bernstein has maintained “Outperform” rating on the stock with a target price of Rs 1,150.

Jefferies has reiterated “Buy” rating with a target of Rs 1,050. All 47 analysts covering HDFC Bank in the market currently maintain a “Buy” rating on the stock.

Market cap and stock performance

The market capitalization of HDFC Bank has increased to more than Rs 12.67 lakh crore. The stock has registered a rise of about 10% in the last one month. Whereas in the last one year it has been down by about 17%.

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