Tag: MCap

MUMBAI: Shares of HDFC Bank fell to close 4% lower on Wednesday after the bank revealed in an analyst day presentation that its net worth had taken a Rs 20,000 crore hit due to the merger of HDFC. The Rs 65 drop in the bank’s share price to Rs 1,560 shaved off nearly Rs 50,000 crore from the bank’s market value.After the presentation, many analysts downgraded their target price for the bank’s stock. The analyst call brought into line the impact of the measures taken by erstwhile HDFC...