HDFCBANK.NS Stock Today: January 18 Q3 profit up; deposit gap in focus
HDFC Bank Q3 results are in focus as we assess earnings and the stock setup for India investors. HDFCBANK.NS closed at ₹931.10 on Friday, up 0.61%. The bank reported double‑digit profit growth with stable asset quality, while loans again outpaced deposits. With markets reopening on Monday, we look at deposit mobilisation, loan-to-deposit ratio, and margin commentary that may drive near-term moves after a year of relative underperformance versus the Bank Nifty.
Q3 FY26 highlights and what stood out
HDFC Bank Q3 results showed net profit rising 11.5% year-on-year to ₹24,260 crore, with steady net interest income and disciplined costs. Management flagged a stable operating backdrop as integration synergies scale. Asset yields benefited from mix, while retail fees stayed resilient. Source: Upstox.
Asset quality GNPA remained broadly unchanged quarter-on-quarter, supporting the earnings print. Slippages were contained and recoveries helped keep credit costs in check. We will watch any colour on unsecured retail, rural portfolios, and commercial vehicles. Stability here allows the bank to focus on granular deposit growth while guarding margins.
On the call, we expect questions around deposit mobilisation, pricing discipline, and NIM trajectory. HDFC Bank Q3 results set a base, but guidance on funding mix, CASA trends, and loan growth cadence will matter. Commentary on fee growth, opex normalisation, and capital buffers may also shape street estimates for FY26-FY27.
Deposits, loan growth, and loan-to-deposit ratio
Sector data suggests loan growth improved into Q3 while deposit growth lagged for many banks, keeping funding tight. HDFC Bank Q3 results indicated loans again outpaced deposits, so the focus stays on deposit inflows and term pricing. Sector preview: Moneycontrol.
A higher loan-to-deposit ratio can support near-term NII but raises funding risk if liquidity tightens. For HDFC Bank, we will track LDR normalization through retail term deposits, corporate deposits, and focused CASA augmentation. HDFC Bank Q3 results make it clear that sustainable growth needs consistent deposit accretion without eroding spreads.
Expect management to prioritise granular retail term deposits, cross-sell to mortgage customers, and deepen captive ecosystems. HDFC Bank Q3 results also spotlight digital sourcing and branch productivity. Clear guidance on deposit costs, campaign intensity, and product mix can help investors gauge how margins and balance sheet growth will align in FY26.
Stock price, valuation, and performance
HDFC Bank Q3 results met a cautious setup. The stock closed at ₹931.10 (+0.61%), with a day range of ₹919.20 to ₹935.95. YTD is -6.06% and 1-year is +12.72%. The 50-DMA is ₹986.90 and 200-DMA is ₹979.23. Price sits below both averages, reflecting recent softness ahead of earnings.
At Friday’s close, P/E is 21.27 on EPS of ₹43.77, P/B is 1.31 on book value of ₹736.93, and dividend yield is 1.45%. Market cap stands at ₹14.32 lakh crore. HDFC Bank Q3 results support the long-term franchise, but investors will weigh deposit costs and NIM outlook against these valuations.
The stock has lagged the Bank Nifty over the past year despite resilient profits. HDFC Bank Q3 results could act as a reset if funding trends improve. We think relative performance hinges on closing the deposit gap, steady asset quality GNPA, and clearer margin guidance that can rebuild confidence in FY26 earnings power.
Technical setup into next week
RSI is 28.76, indicating oversold conditions. CCI at -247.76 and Williams %R at -94.95 also flag weakness. MACD is -6.40 with a negative histogram. HDFC Bank Q3 results can be a catalyst, but confirmation requires traction in price and volume as the new week begins.
Bollinger Bands sit at 1013.42 upper, 988.00 middle, and 962.59 lower. The 50-DMA at ₹986.90 and 200-DMA at ₹979.23 are key hurdles. ATR is 13.76, pointing to moderate daily swings. A hold above ₹920 with closes back over ₹980 would signal improving momentum.
Drivers include deposit mobilisation guidance, NIM commentary, and any credit cost surprises. Macro triggers are RBI liquidity trends and rate expectations. HDFC Bank Q3 results reduce downside from asset quality, but funding costs and growth mix remain the swing factors for near-term multiples.
Final Thoughts
HDFC Bank Q3 results delivered 11.5% profit growth with stable GNPA, while loans again outpaced deposits. The story into FY26 is clear. Sustain growth with stronger deposit inflows, protect margins, and keep credit costs steady. Near term, watch LDR trends, term deposit pricing, CASA traction, and NIM commentary. On the market side, the stock trades below its 50- and 200-DMAs with oversold momentum, so guidance can move sentiment quickly. For India investors, the checklist is simple next week: deposit run-rate, margin outlook, and any shift in asset quality. Align these with your risk, time horizon, and diversification plan.
FAQs
What are the key takeaways from HDFC Bank Q3 results?
Net profit rose 11.5% year-on-year to ₹24,260 crore, net interest income stayed steady, and asset quality GNPA was broadly unchanged quarter-on-quarter. Loans grew faster than deposits, so funding mix and margins remain in focus. Management guidance on deposit mobilisation and NIM will be key for FY26 estimates.
Why does the loan-to-deposit ratio matter now?
The loan-to-deposit ratio shows how much lending is supported by deposits. A higher ratio can lift near-term NII but raises funding risk if liquidity tightens. With loans outpacing deposits, investors will track how HDFC Bank narrows this gap without sacrificing spreads or asset quality.
How did asset quality GNPA trend in Q3?
Asset quality GNPA was broadly unchanged quarter-on-quarter, indicating stable slippages and controlled credit costs. This stability supports earnings and capital. Investors should still watch commentary on unsecured retail, rural, and vehicle segments to ensure stress pockets do not rise as growth continues.
Is HDFCBANK.NS valuation attractive after Q3?
At ₹931.10, the stock trades at a P/E of 21.27 and P/B of 1.31, with a 1.45% dividend yield. Valuation looks reasonable for a leading franchise, but the market wants clearer deposit growth and NIM guidance. Delivery on funding and margins can justify higher multiples.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
