- Wealth PMS (50L+)
This week, Gold, Crude, and USDINR experienced gains across all asset classes, while the S&P 500 faced headwinds. The Nifty 50 also had a positive week, reaching new highs. Notably, over the past year, the Nifty 50 has outperformed gold, surpassing it as a stronger performer.
This week, media stocks have seen a pleasing increase of 8.7%, although the sector has been one of the worst performers over the course of the year. On the other hand, PSU stocks have also gained 8.5% this week and have been among the best performers throughout the year. The NSE 500 experienced a modest gain of 0.8% this week, but has shown a notable increase of 20% over the past year.
The biggest merger in India in the last decade is now complete. As of 14th July 2023, HDFC shares will stop trading.
HDFC and HDFC Bank, the two giants of the Indian financial industry, are fusing into one. And creating a behemoth bank that will be India’s second-largest, even if it’s still going only to be half of the mammoth State Bank of India.
The new HDFC Bank, after gobbling up its promoter, HDFC, will look something like this.
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