HDFC Bank Hits Record High After RBI’s Surprise Rate Cut

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shares surged 2.40% to a record ₹1,996.3 after the RBI unexpectedly cut the repo rate to 5.5% and slashed the CRR by 100 bps to 3%. The bank’s market cap rose by ₹30,225.57 crore to ₹15.23 lakh crore, driving major gains in the Nifty 50, Nifty Bank, and Nifty Financial Services indices.