On May 5, 2023, shares of both HDFC Bank and HDFC fell nearly 6% each — the biggest single-day fall in almost three years, led by fears of outflows by foreign funds after the merged HDFC Bank is included in the MSCI global index. Announced in April 2022, the merger of HDFC twins, as popularly called by the street, is expected to be completed by July. In the past one year, HDFC twins have outperformed the broader market. Since the merger
