HDFC Bank Shares Plunge Despite 12% Growth: What's Driving the Decline?

• HDFC Bank shares fell 4% in four sessions, trading at ₹947, despite 12% growth in loans and deposits in Q3 FY26.
• Market experts attribute the decline to Q3 business updates falling short of investor expectations and heavy selling in the bank's ADRs.
• Technically, the stock is weak, trading below all major EMAs, including the 200-day average, indicating a bearish phase.
• The bank reported 12% year-on-year loan growth to ₹28.44 lakh crore and 12% deposit growth to ₹27.52 lakh crore in the December quarter.
• HDFC Bank's 11% return over the last year significantly underperforms the BSE Bankex's 18% gain, highlighting investor disappointment.

Why It Matters: HDFC Bank's stock decline, despite growth, is due to unmet investor expectations and technical weakness.