Morgan Stanley assigns INR 1,025 target for HDFC Bank stock

Published on 10/07/2026 at 09:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

September 2026 deposits rose 18.80 percent to INR 33,275 billion. HDFC Bank stock costs EUR 20.05 on October 7, 2026 after EUR 19.95, plus 0.50 percent.

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Morgan Stanley assigned an Overweight rating and an INR 1,025 price target to HDFC Bank stock, as BusinessToday reported on October 5, 2026. HDFC Bank also appointed Anup Bagchi as managing director and CEO for a three-year term starting October 27, 2026, according to The Indian Express.

Leadership change meets operating growth

Bagchi succeeds Sashidhar Jagdishan, whose current term ends on October 26, 2026. The transition gives the lender a defined management timetable while the September business update supplies the first operating test for the incoming chief.

HDFC Bank reported period-end deposits of INR 33,275 billion as of September 30, 2026, up 18.80 percent from INR 28,018 billion a year earlier. The figures come from the bank's Form 6-K, published through StockTitan on October 5, 2026.

Deposits outpace gross advances

Gross advances reached INR 32,195 billion at September 30, 2026, a 16.30 percent year-over-year increase from INR 27,692 billion. Deposit growth therefore exceeded gross-advance growth by 2.50 percentage points, a useful distinction for investors assessing funding momentum rather than loan growth alone.

Average deposits rose 16.80 percent to INR 31,665 billion during the September 2026 quarter, while average advances under management increased 14.00 percent to INR 31,872 billion. Time deposits grew 19.70 percent to INR 21,952 billion, compared with 10.70 percent growth in average CASA deposits to INR 9,712 billion.

Target and market context

Morgan Stanley's INR 1,025 target sits alongside Nomura's INR 950 and Jefferies' INR 880 targets in the October 5 brokerage roundup. The range shows that the leadership change has produced a broad set of positive research views, while the operating data point to faster deposit accumulation than credit expansion.

HDB's primary listing last stood at USD 22.42 on the NYSE at 4:00 p.m. ET on October 6, 2026. The same market context put its 52-week range at USD 21.77 to USD 37.45 and market capitalization at USD 115.0 billion as of October 6, 2026.

Euro quote and primary listing

HDFC Bank stock was trading at EUR 20.05 at Lang & Schwarz on October 7, 2026 at 9:46 a.m. CEST, plus 0.50 percent versus the Lang & Schwarz prior close of EUR 19.95 on October 6, 2026. The further course of trading is shown by the continuously updated real-time quote of HDFC Bank stock.