HDFC Bank Surges on RBI Rate Cut

Published 10 months ago

HDFC Bank shares hit a record high after the Reserve Bank of India (RBI) unexpectedly slashed interest rates and the cash reserve ratio, boosting banking sector liquidity and sparking a rally in banking stocks.

HDFC Bank shares rose 2.4% to a record 1996.30 rupees.
RBI cut lending rate by 50 bps & CRR by 100 bps.
Banking stocks (NSEBANK) gained 1.47% on the day.

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