HDFC Bank shares fall as 3 US law firms launch probe over alleged federal law violations

HDFC Bank shares dropped to Rs 737.25 on NSE, falling 10% over five sessions since its Q1 earnings, as three US law firms launched probes into alleged federal securities law violations. The investigations relate to claims that the bank routed payments to Maharashtra State Road Development Corporation to attract large deposits, allegations the bank has strongly denied. The bank reported a 5% year-on-year rise in Q1 FY27 net profit to Rs 19,060 crore.