HDFC Bank Shares Touch 52-Week Low Amid NCLT Appeal Plans and Executive Timeline Updates

HDFC Bank shares remained a key focus for markets on Friday, touching a fresh 52-week low of ₹707 in early trade before moving to flat trading at ₹712.80 by 10:10 am. The stock had closed at ₹711 in the previous session.

The market movement followed the bank's announcement that it is exploring an appeal against a National Company Law Tribunal (NCLT) decision concerning media baron Subhash Chandra’s repayment plan of ₹6.5 crore. HDFC Bank clarified that it had opposed and voted against the resolution, which was approved by the majority, and stated it is considering filing an appeal at the National Company Law Appellate Tribunal (NCLAT).

According to the bank, its admitted claim stood at only 3.2 per cent of the total stated claim amount. The institution noted that it had inherited the facility, which was previously provided by HDFC Limited. This statement followed reports indicating that Chandra had been permitted to pay ₹6.5 crore against admitted claims of ₹22,006.57 crore. On Thursday, Chandra clarified that he had not borrowed any money from any lender. Out of the stated figures, a claim of ₹620 crore has been settled, and a further ₹1,063 crore has been offered for payment by the borrower entities.

In separate legal developments, HDFC Bank addressed a US class action lawsuit, describing the legal action as "without merit," while its shares faced continued downward pressure.

Market trading data for the session showed total traded volume at 44.19 lakh shares, with a traded value of ₹315.96 crore. The bank's market capitalisation declined to ₹10.99 lakh crore, and the adjusted P/E ratio was recorded at 13.67. At the time of writing, the sell quantity stood at 15,26,198 shares, compared to a buy quantity of 13,10,068 shares.

Amid these market developments, brokerage firm Macquarie maintained its outperform rating on HDFC Bank along with a target price of ₹1,150. Additionally, corporate governance timelines indicate that Sashi Jagdishan’s tenure as head is scheduled to end on October 26, 2026, with no formal clarity yet provided regarding a potential extension or renewal.

"Fluctuations in large-cap banking stocks often reflect a combination of ongoing legal proceedings, regulatory updates, and broader market sentiments. When financial institutions navigate complex debt recovery processes and legal disputes, it naturally draws scrutiny from institutional investors and analysts. For long-term market participants, evaluating these developments alongside core financial metrics, credit growth, and leadership continuity remains essential for understanding institutional stability." — Dr. Shishir Gupta, Founder & CEO, StartupLanes