Citi cuts HDFC Bank target from INR 970 to INR 880 for HDFC Bank stock

Published on 10/26/2026 at 15:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter profit rose 4.7 percent to INR 195.10 billion on October 17, 2026. HDFC Bank stock costs EUR 19.55 on October 26, 2026.

Citi target cut

Citi cut its HDFC Bank target from INR 970 to INR 880 on October 19, 2026.
Second-quarter profit rose 4.7 percent to INR 195.10 billion on October 17, 2026.
HDFC Bank stock costs EUR 19.55 at Lang & Schwarz on October 26, 2026 at 3:11 p.m. CEST.
Anup Bagchi is due to take over as chief executive on October 27, 2026.

HDB, US40415F1012, Illustration mit AI erstellt.

HDFC Bank (US40415F1012) faces a lower Citi target after the brokerage cut its valuation from INR 970 to INR 880 on October 19, 2026, while retaining its Buy rating, as Moneycontrol reported. HDFC Bank was trading at EUR 19.55 at Lang & Schwarz on October 26, 2026 at 3:11 p.m. CEST.

Profit grew in the second quarter

HDFC Bank reported standalone net profit of INR 195.10 billion for the second quarter of fiscal 2027, up 4.7 percent from the year-earlier period. Net interest income increased 9.7 percent to INR 346.19 billion, while the gross non-performing asset ratio improved to 1.11 percent as of September 30, 2026, according to Moneycontrol.

The result also showed a margin challenge. Net interest margin was 3.16 percent on total assets in the September quarter, down from 3.26 percent in the preceding quarter, while provisions rose 18.7 percent quarter over quarter to INR 35.74 billion.

What does the target cut mean?

Citi's lower INR 880 target reflects pressure on margins and growth constraints, while JPMorgan also reduced its target from INR 990 to INR 970 and kept its Overweight rating, according to Moneycontrol. Bernstein retained an Outperform rating with an INR 1,150 target in the same October 19, 2026 report.

For investors, the operating mix is important. Gross advances grew 16.3 percent year over year to INR 32.195 trillion as of September 30, 2026, and total deposits increased 18.8 percent to INR 33.274 trillion. The figures point to continued balance-sheet expansion alongside tighter margin conditions.

Leadership date is next

Anup Bagchi is scheduled to take over as chief executive on October 27, 2026. Sashidhar Jagdishan's term ends on October 26, 2026, a transition reported by Fortune India alongside the September-quarter figures.

On the NYSE, HDB last traded at USD 21.90 on October 26, 2026 at 10:24 a.m. ET. The stock's 52-week range was USD 21.71 to USD 37.35, and its market capitalization was USD 112.3 billion on October 26, 2026.

HDFC Bank was trading at EUR 19.55 at Lang & Schwarz on October 26, 2026 at 3:11 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of HDFC Bank stock.