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Nomura trims HDFC Bank to neutral, stock closes 4% down
Mint Mumbai
|September 21, 2023
Shares of HDFC Bank Ltd fell as much as 4.2% after Nomura Holdings Inc. downgraded the stock, prompted by the lender's lowered revision of the business absorbed from its parent
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Shares of HDFC Bank closed 4% lower on Wednesday.
The downgrade of India's largest private sector bank to neutral from buy-the first since its July merger-turned the stock into the NIFTY 50 Index's worst performer Wednesday and the biggest point drag.
The shares have fallen 6% in two trading sessions.
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