UBS Retains 'Buy' For HDFC Bank Stock; Sees Re-Rating After CEO Uncertainty Eases

UBS has maintained its Buy rating on HDFC Bank with a target price of Rs 1,000, saying resolution of the bank's leadership uncertainty could drive a near-term re-rating in the stock.

HDFC Bank has submitted the names of two candidates to the Reserve Bank of India (RBI) for the next Managing Director and CEO, with clarity on the successor expected soon. The current CEO Sashidhar Jagdishan is set to step down at the end of October.

According to UBS, resolution of the leadership overhang could act as a key near-term catalyst for the stock.

UBS expects HDFC Bank's loan growth to improve further after early signs of recovery. Loan growth stood at 15.6% in first quarter of fiscal 2027, and the brokerage expects it to move towards 15% over FY27-29E. The bank's loan growth has already shown improvement, with first quarter 2027 advances growth around 15.5% according to industry data.

UBS also expects margins to improve towards 3.5%, supported by a gradual shift towards a higher retail loan mix.

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The brokerage expects HDFC Bank's return on assets (RoA) to improve to 1.9% in FY27/FY28E as growth and margins recover. UBS also sees scope for future productivity gains from the bank's branch network. Around 42% of HDFC Bank's branches are less than five years old, providing room for these newer branches to mature and contribute more meaningfully to the bank's business.

On the liability side, UBS forecasts deposit CAGR of 15.5% over FY26-28E.

UBS said HDFC Bank's valuation remains supportive, with the stock trading at around 1.4 times fiscal 2028E price-to-book value (P/BV). The bank is also trading at a 33% discount to its own long-term average P/BV, according to UBS.

HDFC Bank trades at a 30% discount to ICICI Bank on the same metric, with UBS noting that this represents the widest-ever discount between the two banks.

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Toxic Vs Hanuman Ansh Box Office Collection: Spiritual Drama Scores Big In Week 6

Hanuman Ansh continues its phenomenal box-office run, with the devotional drama earning significantly more than Yash-starrer Toxic on Thursday. While Hanuman Ansh collected Rs 6.25 crore on Day 42, Toxic raked in Rs 14 lakh on Day 23 in India.

The devotional film earned a staggering Rs 6.11 crore more than the Yash starrer, highlighting its extraordinary staying power at the box office.

Hanuman Ansh Shows Sixth-Week Momentum

Hanuman Ansh collected Rs 6.25 crore net on Day 42, across 9,160 shows in India. The film's India net collection has now reached Rs 243.38 crore, while its India gross collection stands at Rs 287.40 crore.

The Day 42 collection represents a 4.2% jump from the previous day's Rs 6 crore, underlining the film's strong momentum even in its sixth week. With this the spiritual film raked an overall Rs 80. 25 crore on week sixth.

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Overseas, the film collected Rs 1.50 crore on Day 42, taking its total overseas gross to Rs 21.75 crore so far. This pushes the worldwide gross collection to Rs 309.15 crore.

Hanuman Ansh recorded an overall occupancy of 19% on Day 42. Morning shows registered 7.92% occupancy, which increased to 17.46% in the afternoon and 22.08% in the evening. Night shows witnessed occupancy reaching an impressive 20.69%.

The film's performance is particularly noteworthy given its reported budget of around Rs 2 crore. Hanuman Ansh opened to just Rs 10 lakh on its first day but gradually gained momentum through positive word of mouth.

Toxic Day 23 Collection

According to Sacnilk, Toxic collected Rs 14 lakh net in India on Day 23, across 219 shows. The figure represents a decline from the Rs 13 lakh earned on Day 22. With this the film raked in Rs 1.39 crore in its third week.

With its Day 23 collection, Toxic's India net collection has reached Rs 249.63 crore, while its India gross collection stands at Rs 297.92 crore. The film's total overseas gross collection stands at Rs 341.67 crore.

The Hindi and Kannada versions continued to drive Toxic's domestic performance. The Hindi version earned Rs 4 lakh crore from 42 shows, meanwhile the Kannada version collected Rs 10 lakh from 177 shows.

Hanuman Ansh's Strong Run Despite Smaller Release

The comparison becomes more notable when the scale of the two releases is taken into account. Toxic was released across multiple languages and had a significantly wider theatrical footprint, while Hanuman Ansh built its box-office run gradually despite a much smaller initial release.

The trend was visible earlier in their theatrical runs as well. On Day 7, Toxic earned Rs 7.85 crore net from 12,894 shows. On the same calendar day, Hanuman Ansh, then on Day 26, collected Rs 8.50 crore from 7,008 shows, almost half the number of shows. Earlier comparisons also showed Hanuman Ansh posting higher daily collections than Toxic despite having fewer shows on their respective days.

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Directed by Geethu Mohandas, Toxic stars Yash, Kiara Advani, Nayanthara, Tara Sutaria, Huma Qureshi, Rukmini Vasanth, Akshay Oberoi and Sudev Nair. The film, set in post-independence Goa, was reportedly made on a budget of around Rs 500 crore.

Toxic released in Kannada, English, Hindi, Telugu, Tamil and Malayalam, opened strongly at the box office, but its daily collections declined considerably after its opening week. Meanwhile, Hanuman Ansh, has continued to benefit from its extended theatrical run, with its Day 42 collection pushing its worldwide gross to Rs 309.15 crore.

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Samsung Galaxy S27 Ultra Could Get New Image Processing for More Natural Photos: Leak

Samsung is reportedly adding new image processing algorithms for the Galaxy S27 Ultra. The company is said to be aiming for a warmer, more natural look for photos. It has also reportedly updated its Log format and Advanced Professional Video (APV) codec to improve HDR video recording for the upcoming phone.

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India Squad For WI Live: Pant Ignored Again, Another Big Name Missing

India ODI Squad Announcement Live Updates: The BCCI has announced India's squads for the ODI and T20I series against the West Indies, starting September 27 in Thiruvananthapuram. Rishabh Pant has been overlooked once again, while Hardik Pandya's name is also missing from both squads for the tour of the Caribbean. Jasprit Bumrah, who will be playing in the Asian Games 2026 for India, has also been rested for the West Indies T20Is. India will play three ODIs and five T20Is against the West Indies in September-October. Meanwhile, Pant has been named in the Rest of India squad for the Irani Cup match against Ranji Trophy champions Jammu & Kashmir.

India ODI Squad vs West Indies 2026 Live Updates - BCCI Announcement Live

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