Commodities
HDFC Bank Share Price Drops Amid Class-Action Lawsuit Concerns
HDFC Bank's share price opened lower at ₹727.05 on Monday and was trading at ₹725.40, down 0.22%, due to concerns over a class-action lawsuit filed against the bank.
The lawsuit alleges that HDFC covertly paid state firm marketing expenses in exchange for large deposits, with senior management approval and potential regulatory violations.
This news comes as investors are already cautious following a generally subdued global sentiment, with US markets ending Friday lower and Brent crude prices hovering around $88.81 per barrel.
Despite HDFC Bank's net profit of ₹19,060 crore for the June 2026 quarter, a year-on-year growth of 5.0%, the stock is under pressure due to the ongoing lawsuit and broader market uncertainty.