Q2 earnings done for HDFC Bank, ICICI, other private lenders. What's next?
HDFC Bank moved lower in a quarterly results development for Q2 FY27.
· Economic Times Markets, ET Stocks
Private banks delivered mixed Q2 FY27 earnings, prompting analysts to identify lenders with attractive valuations and flag those investors may want to avoid. HDFC Bank reported a 5% YoY rise in net profit to Rs 19,510 crore, largely in line with expectations, but its shares have fallen 6% since the results.
Key facts
- Period
- Q2 FY27
The analysis
HDFC Bank reported Rs 19,510 crore for Q2 FY27, with movement of 5% and 6% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.1% on the day at ₹687.60, and has returned -7.4% over three months. It sits 32% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -6.8% over the same period, so HDFC Bank is running 0.6 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.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: HDFC Bank (HDFCBANK), in Banks.
- On the day, 0 of 2 are higher: HDFC Bank leads at -0.1% and ICICI Bank trails at -1.1%.
- Over three months: HDFC Bank -7.4% against Banks -6.8% (0.6 points behind); ICICI Bank -2.1% against Banks -6.8% (4.7 points ahead).
- At least 25% below the 52-week high: HDFC Bank (32%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| HDFC BankHDFCBANK · Banks | ₹687.60 | -0.1% | -6.5% | -7.4% | -31.9% | 0.4× | — |
| ICICI BankICICIBANK · Banks | ₹1,387.20 | -1.1% | +5.7% | -2.1% | -5.2% | 0.3× | — |
Banks
1M -6.3% · 3M -6.8%
HDFC Bank, ICICI Bank
Prices as of 27 Oct 2026, 11:43 IST. Sector moves are the average of the stocks we track in each sector.
In this story
Related coverage
HDFC Bank CEO Transition: Sashidhar Jagdishan Exits As Anup Bagchi Takes Charge
ICICI Pru Life Q4 net profit falls 26% to Rs 174 cr, insurer announces dividend
Adani Energy Solutions share price: Analysts turn bullish after 30% correction; check new targets
Ather Energy extends rally, EV stock surges 20% in 2 days; here's why
Here's why Kotak Neo recommends 'Buy' rating on ICICI Bank; 'Add' Nykaa