HDFC Bank Stock Steady Despite Fraud FIR, Underpinned By Strong Financials: SEBI Ras

HDFC Bank's stock has rallied sharply from ₹1,782 to ₹1,980 in 2025, reflecting robust fundamentals and improving technicals, according to SEBI-registered analyst Rohit Mehta. 

At the time of writing, HDFC Bank shares were trading at ₹1,978.20, down 0.50 points or 0.03% on the day.

Mehta highlighted strong loan growth driven by retail and corporate segments, post-merger upsides with HDFC Ltd, and digital investments as key drivers behind the bank's recovery.

Mehta also pointed to an improving loan-to-deposit ratio, a strong capital position, and favorable market sentiment supported by broker re-ratings from Jefferies, Emkay, and UBS. 

He noted the stock is currently trading near year-to-date highs with a sustained uptrend and technical support zones around ₹1,769–1,792.

On the profit front, Mehta said HDFC Bank's fourth-quarter (Q4) results showed a 44% year-on-year increase in profit before tax and revenue growth of 9.25%. 

He also acknowledged some risks, including a high valuation multiple and contingent liabilities.

Meanwhile, SEBI-registered analyst Nikhil Gangil addressed recent fraud allegations against HDFC Bank's MD & CEO, Sashidhar Jagdishan, filed by Mumbai's Lilavati Trust. 

Gangil said that despite the serious charges and FIR, the stock has remained resilient without a sell-off, signaling strong investor confidence in the bank's credibility and governance.

Gangil said this stability is a reflection of the company's long-term conviction and the market's psychological strength, underscoring that quality companies can absorb short-term noise without losing investor trust. 

He added that HDFC Bank is a long-term compounder backed by solid fundamentals and investor backing.

On Stocktwits, retail sentiment was 'extremely bullish' amid 'high' message volume.

The stock has risen 11% so far in 2025.

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