The stocks of HDFC Bank and HDFC fell over 6%. Both companies witnessed a selloff on Friday. The merged HDFC entity could see $200 million outflow after MSCI tweak. Shares of HDFC Bank and HDFC, two of India’s largest financial services firms, fell by more than 6% on May 5, 2023, resulting in a combined ...

11 banks and 11 corporates in India have received downgraded ratings by global credit ratings agency Moody’s Investors Services. This was done a day after Moody’s downgraded India’s sovereign ratings from Baa2 to Baa3 on June 1, with outlook being retained as negative. The 11 banks that have been downgraded include long term and foreign ...