Why HDFC Bank Shares Fall Nearly 4% After Analysts Meet?

Shares of HDFC Bank, India's largest private lender, plummeted by nearly 4% on Wednesday. This decline marked the bank as the top loser on both the Nifty 50 and Sensex indices. The downturn followed HDFC Bank's disclosure that its recent merger with HDFC Ltd would impact crucial financial metrics. The stock's performance is notably its worst single-day drop in four months, the sharpest since May. Furthermore, brokerage firm Nomura's downgrade of the stock to neutral and a reduced price target added to the bank's woes.