HDFC Bank lost 1.62% to Rs 1,011.50 at 11:09 IST on BSE on reports the bank has slashed its base rate by 35 basis points to 9.35% from 9.7%.
Meanwhile, the S&P BSE Sensex was down 178.53 points or 0.68% at 26,104.56.
On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter.
The stock hit a high of Rs 1,027.45 and a low of Rs 1,004.50 so far during the day. The stock had hit a 52-week low of Rs 839 on 1 September 2014. The stock had hit a record high of Rs 1,127.90 on 21 July 2015.
The stock had underperformed the market over the past one month till 31 August 2015, declining 7.47% compared with Sensex's 6.51% fall. The scrip had, however, outperformed the market in past one quarter, sliding 2.18% as against Sensex's 5.55% fall.
The large-cap bank has equity capital of Rs 502.77 crore. Face value per share is Rs 2.
The base rate is the minimum lending rate charged by a bank.
HDFC Bank's net profit rose 20.7% to Rs 2695.72 crore on 26.3% growth in total income to Rs 16502.97 crore in Q1 June 2015 over Q1 June 2014.
HDFC Bank is one of the leading private sector banks in India.
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