HDFC Bank vs ICICI Bank: Bernstein shares note on how financials stack up now
HDFC Bank is in focus.
· Business Today Mkts
Bernstein said the debate has now shifted to management changes at HDFC Bank and whether they can drive an improvement in strategy and execution, or at least better communication.
The analysis
Against that, the stock is +1.4% on the day at ₹692.80, and has returned -8.1% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -6.0% over the same period, so HDFC Bank is running 2.1 points behind its peers.
For HDFC Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- In focus: HDFC Bank (HDFCBANK), in Banks.
- On the day, 2 of 2 are higher: HDFC Bank leads at +1.4% and ICICI Bank trails at +0.8%.
- Over three months: HDFC Bank -8.1% against Banks -6.0% (2.1 points behind); ICICI Bank -2.5% against Banks -6.0% (3.5 points ahead).
- At least 25% below the 52-week high: HDFC Bank (31%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| HDFC BankHDFCBANK · Banks | ₹692.80 | +1.4% | -2.2% | -8.1% | -31.4% | 0.7× | — |
| ICICI BankICICIBANK · Banks | ₹1,398.00 | +0.8% | +5.8% | -2.5% | -4.4% | 0.9× | — |
Banks
1M -3.4% · 3M -6.0%
HDFC Bank, ICICI Bank
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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