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Foreign passive funds could sell about $200m worth of HDFC Bank after its merger with HDFC, with overseas investors likely having invested nearly $3bn in the merged entity, prior to the current calculation. HDFC shares slid 5.6% to INR2,701.15 ($35.87) while HDFC Bank shares fell 5.9% closing at INR1,625.35, their highest single-day decline since May 2020. HDFC Bank will be added to the large-cap segment of MSCI Global Standard Indexes following an adjustment factor of 0.5, MSCI said. HDFC Bank is subject to a foreign ownership limit of 74%, with the foreign headroom in relation to the merged entity now at 18.23%.

Large- and mid-cap mutual funds provide stability, capital appreciation, high liquidity and lower volatility against market fluctuations. These funds operate by investing in the top 250 companies in terms of market capitalization. Funds in this category must invest a minimum of 35% of the corpus each in large- and mid-cap companies. Here are five mutual funds that have consistently given superior returns: ICICI Prudential Large & Mid Cap Fund Direct Plan, HDFC Large and Mid Cap Fund Direct, SBI Large & Midcap Fund Direct Plan, Motilal Oswal Large and Midcap Fund Direct, and Mahindra Manulife Large & Mid Cap Fund Direct.

According to blockchain and smart contract security company CertiK, the total fund hackers managed to drain in April from crypto projects was $103.7 million.

The Nifty IT index closed 0.59 per cent down at 27719.95.

"Spot gold prices in the Delhi markets traded at Rs 62,040 per 10 grams, down Rs 160 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

For FY23, the company reported a 52.3% YoY rise in consolidated net profit to Rs 2,322 crore. Revenue from operations increased 15.3% YoY to Rs 16,300.55 crore.

NRIs living in 10 countries can now access UPI using their international mobile numbers for their NRE or NRO bank accounts. This means non-resident Indians will no longer require an Indian phone number to access UPI. PayNearby co-founder Yashwant Lodha said the move is a “game changer” and will allow a “seamless, beautiful experience”. However, an international phone number must be linked to the account to ensure high safety in the linking process with no additional charges to users.

The company reported its earnings after markets closed. The stock ended 0.7% down at Rs 493.60 on the National Stock Exchange.

SIS, incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 5668.88 Crore) operating in Services sector.

The Nifty 50 closed 1.02% lower at 18,069.00, while the S&P BSE Sensex lost 1.13% to 61,054.29. Financials led the slide in the Nifty, falling 2.34% in the worst single-day drop in over three months.