HDFC BANK GAINS 4%

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On Thursday HDFC Bank stock price opened with a gain of 2.49% at Rs 911.10 and later touched an intraday high of Rs 930, rising 4.63% .HDFC Bank stock price closed 4% higher after the RBI asked the country's top private lender to make key board appointment only after new chief executive officer takes charge this year. Share price of HDFC Bank closed 3.98% or 35 points higher at Rs 924 compared to the previous close of Rs 888.95 .

Its market capitalisation rose to Rs 5.06 lakh crore. HDFC Bank stock has gained 11% in one week. HDFC Bank stock price trades higher than 5-day moving averages but lower than 20, 50, 100 and 200-day moving averages. The large cap stock has lost 27.32% since the beginning of this year and 19% during the last one year. A communication dated April 7, 2020, from Reserve Bank of India stating that since these are important positions in the Bank, the Bank is advised to examine and submit the proposal after a new MD and CEO assumes charge later this year," HDFC Bank informed the stock exchanges. HDFC Bank said it would accordingly ensure compliance with the Reserve Bank's instruction