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ITC, HDFC Bank, HUL Shares Plunge: Key Losses & Analyst Targets Amid Sell-off

· · 2 min read

Shares of major Indian companies ITC, HDFC Bank, and Hindustan Unilever have experienced significant sell-offs, trading near 52-week lows. HDFC Bank is down 20% in six months, while ITC and HUL also report substantial losses, prompting varied analyst price targets.

Major Indian market players ITC Ltd, HDFC Bank Ltd, and Hindustan Unilever Ltd (HUL) are currently experiencing a notable downtrend, with their shares trading near 52-week lows. This sell-off comes even as benchmark indices show a mild recovery, indicating specific pressures on these large-cap stocks.

HDFC Bank Faces Steep Decline

HDFC Bank, India's largest private sector lender, has seen its shares tumble by 20% over the last six months, significantly underperforming the BSE bankex, which fell by 5.30% during the same period. The stock has plummeted 27% in the past year, leading to investor losses extending up to five years, with a 4% decline over that longer term, contrasting sharply with the BSE bankex's 64% rise. HDFC Bank recorded a 52-week low of Rs 715.05 on August 19, 2026.

Analyst Outlook for HDFC Bank

  • Goldman Sachs initiated coverage with a target price of Rs 861.
  • Nomura maintains a buy call, setting a target of Rs 950.
  • Investec downgraded to "hold" from "buy," revising its target to Rs 920.
  • Bernstein upheld its "outperform" rating with a price target of Rs 1,150.

ITC and HUL Also Under Pressure

ITC shares also hit a 52-week low of Rs 265.10 on August 20. Investors in the FMCG major have been incurring losses for the last three years, with the stock falling 43% over two years. Similarly, HUL shares are trading near their 52-week low of Rs 2,008.45, reached on August 19, 2026. HUL stock is down 20% in five years, 21% in one year, and 25% in two years, leaving both long-term and short-term shareholders facing losses. All three stocks are trading below their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages, signaling a strong bearish trend.

ITC Price Targets

  • Anand Rathi Share and Stock Brokers: Jigar S Patel suggests ITC is a "sell on rally" candidate, with support at Rs 268-255 and resistance at Rs 285-300.
  • Antique Stock Broking: Target price of Rs 408.
  • Investec: Target price of Rs 308.
  • JPMorgan: Suggested target of Rs 310.

HUL Price Targets

  • HSBC upgraded HUL to "Buy" with a target price of Rs 2,450, citing an attractive entry opportunity due to recent corrections and improving trends in Home Care and Beauty & Wellbeing. They forecast a 9% CAGR in profit before tax between FY26 and FY29.
  • Jefferies maintained a "Buy" recommendation with a higher target price of Rs 2,850.

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