HDFC Bank shares came under pressure today after a securities lawsuit was filed in the US against the lender and two of its senior executives. The stock fell more than 2% during the session, hitting a fresh 52-week low of Rs 710.
The fall also pushed HDFC Bank’s market capitalisation below the Rs 11 trillion mark.
Let’s take a look at what the lender is saying and also about the US lawsuit –
What did HDFC Bank say?
HDFC Bank spokesperson told financialexpress.com that such lawsuits are common in the US, particularly after a company’s share price declines.
The spokesperson said, “In the United States, these types of shareholder lawsuits are incredibly common after a company experiences a stock drop, and many companies listed in the U.S. routinely defend these lawsuits each year. The Bank believes the lawsuit is without merit and intends to vigorously defend itself.”
What is the US lawsuit about?
According to reports, investor Jwalant Natvarlal Soneji has filed a securities fraud class action lawsuit against HDFC Bank, its Managing Director and Chief Executive Officer Sashidhar Jagdishan and former Chief Financial Officer Srinivasan Vaidyanathan.
The lawsuit covers investors who purchased HDFC Bank securities between July 17, 2023 and May 26, 2026.
At the centre of the allegations are payments of around Rs 45 crore made by the bank to Maharashtra State Road Development Corporation (MSRDC).
The payments have allegedly been classified as marketing expenses and were linked to compensation for interest rates offered to certain depositors.
The allegations claim that investors were not adequately informed about the matter.
However, the lawsuit is only an allegation at this stage. HDFC Bank has rejected the claims and said it intends to defend itself.
HDFC Bank share price: How has the stock performed?
Over the past five trading sessions, the stock has declined around 2%. The pressure becomes more visible over a longer period. The stock has fallen nearly 19% over the past six months and around 25% over the past year.
So far in 2026, HDFC Bank shares are down about 28%.
Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a SEBI-registered financial advisor.