Excitonic density-wave states realized by the quantum condensation of electron-hole pairs (or excitons) are studied in the two-band Hubbard model with Hunds rule coupling and the pair hopping term. Using the variational cluster approximation, we calculate the grand potential of the system and demonstrate that Hunds rule coupling always stabilizes the excitonic spin-density-wave state and destabilizes the excitonic charge-density-wave state and that the pair hopping term enhances these effects. The characteristics of these excitonic density-wave states are discussed using the calculated single-particle spectral function, density of states, condensation amplitude, and pair coherence length. Implications of our results in the materials aspects are also discussed.
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