3 insights to kick-start your day, featuring what’s happening with HDFC Bank

HDFC and merger pangs In the news. Shares of HDFC Bank have fallen 4.6% since its September 18 analysts (sell-side) meet, where it disclosed the financials of the merged entity for the first time. Inside the news. The merger of HDFC and HDFC Bank came into effect on July 1, 2023. Brokerage firm Nomura, which downgraded the bank’s shares to neutral, highlighted four negative surprises from the meet: 1) 4% negative impact on FY24 book value per