HDFCBANK.NS Stock Today: Wide Deposit Targets Signal NIM Pressure — January 19
HDFC Bank share price was nearly flat at ₹927.90 at mid-session on 19 January, after opening at ₹935.90 and swinging between ₹919.50 and ₹936.15. Ticker HDFCBANK.NS sits well below its 50-day average of ₹986.90 and 200-day average of ₹979.23. Management set wide deposit targets to bring the credit-deposit ratio down, signaling funding cost and NIM risk ahead. We break down key levels, the deposit plan, and what to track post HDFC Bank Q3 for direction.
HDFC Bank share price today: levels and trend
HDFC Bank share price traded at ₹927.90, up ₹2.45 or 0.26 percent, within a ₹919.50 to ₹936.15 intraday range. The stock sits below its ₹986.90 50-day and ₹979.23 200-day averages, and far from the 52-week high of ₹1,020.50. Momentum is weak with RSI at 28.76, while price also sits below the Bollinger lower band of ₹962.59, highlighting short-term oversold conditions.
Indicators are cautious. MACD is negative, ADX at 17.98 shows a weak trend, and ATR at 13.76 points to moderate daily volatility. Immediate support is near ₹920, then ₹900. Initial resistance lies around ₹963 to ₹988, aligning with the Bollinger mid-band and the 50-day average. A sustained close back above the 200-day average at ₹979 would improve the near-term setup.
Deposit targets and NIM outlook
Management acknowledged slower deposit mobilisation and guided a path to reduce the credit-deposit ratio from 98.7 percent in Q3 FY26 toward 92–96 percent in FY26 and 85–90 percent by FY27. The wide band reflects uncertainty and execution risk. This roadmap was outlined in recent commentary reported by the Times of India HDFC sets wide deposit targets, flags uncertainty.
The NIM outlook, or net interest margin view, faces pressure as loan yields reset and funding costs stay firm, even if the policy cycle softens. To protect margins, we will track deposit growth, CASA mix, and pricing discipline across retail and corporate buckets. Any uptick in low-cost deposits should ease funding strain and support earnings resilience through FY26–FY27.
What to track after HDFC Bank Q3
After HDFC Bank Q3, the focus shifts to deposit run-rate versus loan growth, CASA share progress, and term deposit repricing. Stable asset quality would underpin confidence, but funding is the swing factor for spreads. Watch branch expansion productivity, cross-sell to merger customers, and traction in retail, SME, and corporate liabilities for signs of a steadier growth-finance balance.
Key drivers include deposit price actions, RBI policy cues, and management commentary on growth versus margin trade-offs. Peer trends also offer signals on liability intensity and spreads. For context, see Investing.com’s comparison piece ICICI Bank vs HDFC Bank: What the Results Really Say and How to Trade Them. Clear improvement in deposit momentum could stabilise sentiment on the stock.
Valuation, grade, and scenarios
At ₹927.90, HDFC Bank trades at a P/E of 21.27 and P/B of 1.31, with a dividend yield near 1.45 percent. Meyka Stock Grade is B+ with a Buy suggestion, while our 16 January rating stance is Neutral. Model projections imply ₹973.50 in one month, ₹1,019.69 in a quarter, and ₹992.91 over a year. Upside needs faster deposits and steadier spreads; risks include sticky funding costs.
Final Thoughts
For Indian investors, today’s setup is simple. HDFC Bank share price looks oversold on several indicators, yet the path forward depends on deposits and pricing. Management’s plan to lower the credit-deposit ratio is sensible, but it must show progress in CASA mix and cost discipline to defend margins. Traders can watch ₹920 for support and ₹979–₹988 for confirmation levels. Long-term investors may prefer staggered buys on weakness, tied to monthly checks on deposit growth and commentary on spreads. If deposit traction improves, sentiment should stabilise and the multiple can hold. Without that, volatility can persist even if broader rates drift lower.
FAQs
Why is HDFC Bank share price under pressure despite stable earnings?
Near-term pressure stems from funding friction. Management plans to cut the credit-deposit ratio, which needs faster deposit growth. Until low-cost deposits improve, funding costs can stay firm while loan yields reset. That squeezes net interest margins and weighs on HDFC Bank share price, even with steady asset quality.
What does the credit-deposit ratio mean for investors?
It shows how much of deposits are lent out. A ratio near 100 percent limits funding flexibility and can push banks to pay up for deposits. Management aims to move from 98.7 percent in Q3 FY26 to 92–96 percent this year and 85–90 percent by FY27, which should ease funding strain if achieved.
What is the NIM outlook for HDFC Bank now?
Management flagged margin risks as funding costs remain firm while loan yields adjust. A better CASA mix and disciplined pricing can support NIM, but progress on deposits is key. If low-cost deposits rise, NIM can stabilise. If not, HDFC Bank may see continued pressure on spreads over the next few quarters.
What are important trading levels for HDFC Bank today?
Immediate support is near ₹920, then ₹900. Resistance sits around ₹963 to ₹988, which aligns with key bands and the 50-day average. A close above the 200-day average at ₹979 would improve momentum. These levels can help frame entries and exits while monitoring news on deposits and margins.
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.
