HDFC Bank falls as US law firm files class action suit against the bank for misleading claims

HDFC Bank Ltd. | Bank - Private | BFSI | BSE: 500180 | NSE: HDFCBANK

18 Sep 2020 Evaluate

HDFC Bank is currently trading at Rs. 1078.00, down by 5.25 points or 0.48% from its previous closing of Rs. 1083.25 on the BSE.

The scrip opened at Rs. 1090.00 and has touched a high and low of Rs. 1092.15 and Rs. 1075.25 respectively. So far 83522 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1304.10 on 19-Dec-2019 and a 52 week low of Rs. 738.90 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1095.50 and Rs. 1053.20 respectively. The current market cap of the company is Rs. 593787.41 crore.

The promoters holding in the company stood at 26.10%, while Institutions and Non-Institutions held 58.89% and 14.76% respectively.

A law firm in the US has filed a class action suit against HDFC Bank, claiming damages for the losses incurred by investors because of ‘materially false and misleading’ representations made by India's largest private sector lender. The complaint did not mention the exact quantum of the damages sought, though it maintained that may be thousands of investors would have suffered.

The allegations pertain to the vehicle finance vertical, where the bank later acknowledged to have found some improprieties which resulted in some executives being acted against. The bank used to bundle vehicle tracking devices along with auto loans sold by it, resulting in an additional cost to the borrower, and also concerns over privacy.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

HDFC Bank Share Price

781.20 -14.65 (-1.84%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
HDFC Bank	781.20
ICICI Bank	1264.80
Axis Bank	1269.40
Kotak Mahindra Bank	380.75
Indusind Bank	949.85
View more..

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