HDFC Bank shares rise nearly 2% after Bagchi appointment, Q2 business update

HDFC Bank reported Q2 2026 growth in advances (15.3% YoY) and deposits (18.8% YoY), with CASA and time deposits rising. The bank mobilized $11.5B in FCNR(B) deposits and issued $2.5B in US dollar bonds. Shares traded at Rs. 719.35 on BSE. Full results await audit review.

Motilal Oswal maintains a 'Buy' rating on HDFC Bank (HDFCB) with a target price of INR 925. The RBI approved Anup Bagchi as the new MD & CEO, starting October 27, 2026. Bagchi's appointment is expected to improve investor sentiment and earnings performance from FY28, with an estimated RoA of ~1.7%.

HDFC Bank shares fell 1% while Yes Bank shares rose 2% after Q2 earnings. HDFC Bank reported 16% loan growth and 19% deposit growth, while Yes Bank saw 24% loan growth and 20% deposit growth. Jefferies maintains a buy rating on HDFC Bank with a target price of Rs 880, while analysts have a sell consensus on Yes Bank.

HDFC Bank reported 18.8% yoy deposit growth and 16.3% yoy advance growth in Q2FY27, driven by $11.5B in FCNR-B deposits. The bank issued $5.7B in loans and $3.1B in standby letters of credit against these deposits. CASA deposits grew 10.8% yoy, while time deposits increased 22.8% yoy.

The RBI approved Anup Bagchi as HDFC Bank's new MD & CEO for a three-year term starting Oct 27, 2026. Bagchi has over three decades of experience in banking and financial services. Motilal Oswal maintains a BUY rating on HDFC Bank with a target price of INR 925, citing improved earnings from FY28 and leadership stability.

HDFC Bank shares rose 2% after the RBI approved Anup Bagchi as the new CEO. The bank reported a 16% increase in advances and 19% growth in deposits for Q2. Motilal Oswal retained a 'Buy' rating with a target price of ₹925, citing improved leadership and earnings outlook.