HDFC shares, HDFC business
During Jagdishan’s tenure, shares of HDFC Bank gained 27.7%, against 266.67% at rival ICICI Bank, even as its loan book tripled to ₹30.6 trillion and deposits expanded 2.6 times to ₹31.7 trillion. Valuation weakened – the price-to-book value fell from 3.2 times when Jagdishan took over in 2020, to 1.8 times now. In comparison, ICICI Bank’s valuation improved from 1.8 to 2.7 times over this period. On Friday, the stock ended at ₹720.30, up 1.31% from the previous close. Shares of HDFC Bank have fallen 27.9% in 2026, against a 3.5% decline in the Bank Nifty, marking its worst relative underperformance since 2003.
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