HDFC Bank shares set for worst week since January 2024, shed ₹1 lakh crore in market cap

Shares of HDFC Bank Ltd. are down another 1.5% on Friday, January 9, and have declined in all five days this week.

India's largest private lender has seen its stock decline all five days this week. The last instance of the stock declining every day in a week was between September 22 - September 26, 2025.

With this fall, the stock has declined 6.5% this week. This has turned out to be the worst week for the stock since January 2024, when the stock had declined 10% during the week that ended on January 19.

HDFC Bank has also lost over ₹1 lakh crore in market capitalization this week. The lender had ended last Friday with a market cap of ₹15.49 lakh crore, which currently stands at ₹14.39 lakh crore.

Retail shareholders, who own about 7.5% of Indian equities, have been steadily reducing their exposure to HDFC Bank. As of December 2025, their holding declined to 9.41%, the lowest level in the last 20 quarters, according to historical shareholding data compiled from stock exchanges. You can read this story on CNBC-TV18 Access right here.

HDFC Bank reported its business update for the third quarter earlier in the week, where its loan book grew by 12%, which was the first time since the merger with HDFC that its loan book grew by double digits.

Deposits also grew in-line with the advances at 11.5%.

During the quarter, the loan-to-deposit ratio for HDFC Bank went up by 50 basis points to nearly 99%, higher than the management guidance, who had planned on bringing it down to less than 90% in the near-term.

Shares of HDFC Bank are now trading 1.1% lower at ₹935.9. The lender will report its third quarter results on Saturday, January 17.