HDFC hits all-time high of Rs 2,057; gains 11% in one month

In the past one month, HDFC has outperformed the market by gaining 11 per cent, as compared to the 7 per cent rise in the benchmark S&P BSE Sensex

Housing Development Finance Corporation Limited (HDFC) shares hit an all-time high of Rs 2,057, up 2.3 per cent, in intra-day trade on the BSE on Thursday after the Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 6 per cent in the first bi-monthly monetary policy meet of the financial year (FY) 2019-20.

Repo rate is the rate at which the RBI lends money to the commercial banks, in case of any shortfall of funds.

The stock was trading higher for the third straight day and surpassed its previous high of Rs 2,051, touched on