Anand Rathi says HDFC Bank still trails ICICI Bank on metrics
In short
Anand Rathi says HDFC Bank still has a long way to go before it catches up with ICICI Bank on important business measures. The brokerage pointed to credit growth, net interest margins and return on equity.
The story also says HDFC Bank’s share price is down 29% in 2026. It is not stated here what target price the brokerage gave.
What the reporting says
Anand Rathi said HDFC Bank still has a long road to catch up with ICICI Bank on key operating metrics, including credit growth, net interest margins and return on equity. The publisher summary says this view comes as HDFC Bank’s share price is 29% down in 2026. The immediate market implication is cautious sentiment, but the note does not state a target price or any new forecast.
Why it matters
The brokerage view says HDFC Bank still trails ICICI Bank on credit growth, net interest margins and return on equity, and the publisher summary says the stock is down 29% in 2026. That points to a negative market tone around the lender’s relative operating performance. The reporting does not provide the target price, valuation details or a new earnings estimate, so the extent of upside or downside remains unknown.