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HDFC Bank trades flat after 5-10 bps MCLR cut
The Hindu BusinessLine··8 Sept
HDFC Bank shares traded flat at Rs 706.45 on the NSE at 10.29 am Tuesday after opening at Rs 707.10. Reports said the bank cut MCLR by 5-10 basis points across tenures from September 7. Motilal Oswal put gold loans at Rs 255 billion in June 2026, up 8 percent quarter on quarter. CEO Sashidhar Jagdishan's term ends October 26.
Prism
What It Means For You
- Borrowers on MCLR-linked loans see the September 7 cut of 5-10 basis points across tenures.
- Gold-loan customers sit in a book that Motilal Oswal put at Rs 255 billion in June 2026.
- Investors are watching the board's search for Jagdishan's successor before October 26.
What's Happening
- The stock moved between Rs 704.70 and Rs 708.90 in morning trade after a Rs 710.50 Monday close.
- Market capitalisation stood at Rs 10.89 lakh crore with an adjusted P/E of 13.67.
- The bank elected to call Rs 739 crore of Additional Tier 1 notes issued on September 30, 2021.
What Else Moved the Stock
- Jagdishan opted out of reappointment last month after nearly three decades at the bank.
- The board said it will fast-track selecting and appointing his successor.
- HDFC Bank's gold loans rose 34 percent year on year to Rs 237 billion in FY26, the broker note said.
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