HDFC Bank Shares Drop After Missing June Quarter Estimates

HDFC Bank Ltd shares fell more than 4% to Rs 784.45 in early trading on July 20, 2026, following the release of June-quarter earnings. The private sector lender reported a standalone net profit of Rs 19,059.72 crore, representing a 4.98% year-on-year increase, and net interest income of Rs 33,535.95 crore, up 6.7%.

Both key financial metrics missed market estimates. The net profit fell below the CNBC-TV18 poll estimate of Rs 19,332 crore, while net interest income failed to reach the projected Rs 34,353 crore. This decline extended a larger downward trend for the stock, which has dropped 17.2% so far in 2026.

Despite the immediate market reaction, several major brokerages remained optimistic about the bank's long-term fundamentals and stable asset quality. Jefferies, Nomura, and Bernstein maintained bullish ratings and positive target prices for the stock.