HDFC Bank shares are near a key level and retail continues to bet on it

Retail investors have continued to bet on shares of HDFC Bank for the second quarter running, as per the lender's latest shareholding pattern uploaded on the Bombay Stock Exchange. The stock is also at a critical juncture in terms of price.

As per the shareholding pattern for the quarter that ended in June, retail shareholding in HDFC Bank was back above the mark of 10% for the first time after a year.

As many as 44 lakh small retail shareholders, or those with authorized share capital of up to ₹2 lakh, held a 10.32% stake in HDFC Bank. This is in comparison to the 41.1 lakh retail shareholders, who held a 9.87% stake in the company at the end of the March quarter. The last instance of retail shareholding in HDFC Bank being in excess of 10% was back in June 2025, at 10.3%.

Among other shareholders, India's Mutual Funds have also increased their stake in HDFC Bank during the June quarter to 30.87% from 29.54% in March.

Mirae Asset Large Cap Fund (1.16%), Kotak Flexicap Fund (1.17%), Parag Parikh Flexi Cap Fund (1.19%), UTI Nifty 50 ETF (2.46%), Nippon Life India ETF Nifty 50 BEES (2.93%), HDFC Flexi Cap Fund (3.05%), ICICI Prudential Large Cap Fund (4.84%), and SBI Nifty 50 ETF (7.49%), are among the prominent shareholders in HDFC Bank at the end of the June quarter.

While Mutual Funds and retail shareholders continue to raise their stake in HDFC Bank, foreign portfolio investors continued to be net sellers, and have been paring stake in India's largest private lender for at least five quarters in a row. At the end of the June quarter, FPI shareholding in HDFC Bank stood at 41.83% from 44.05% in the March quarter.

HDFC Bank At A Crucial Juncture

Shares of HDFC Bank are at a crucial juncture. At the close of trade on Monday, the stock had closed above its 100-Day Moving Average, which was at levels of ₹809.

Once pre-open settled on Tuesday, the stock was at ₹843, which is exactly the same level at which it had closed on March 17, 2026, a day before former Chairman Atanu Chakraborty had quit, leading to a steep sell-off in the stock.

Since then, the lender has a new chairman in Rajiv Kumar, and has also reported a strong quarterly business update for the June quarter, with loan growth being at the highest level in five quarters.

Shares of HDFC Bank are trading 0.5% higher on Tuesday at ₹833.8. Despite the stock being 20% lower so far on a year-to-date basis, the stock remains a "consensus buy" among analysts, as all 47 of them tracking it, have a "buy" rating on the stock.