Shares of Bandhan Bank are up ~12% after gaining 20% intraday on October 11 as media reports suggested that the stock would be included in the MSCI Index in the coming week.
Gruh Finance, which merged with the bank, also rose 20%.
Bandhan Bank will be added to the MSCI Index from October 16 after its acquisition of Gruh Finance.
The National Company Law Tribunal (NCLT) had approved the merger in September. The record date for determining the shareholders of Gruh Finance who will be entitled to shares of the bank is October 17.
Stock View:
Bandhan Bank Ltd is currently trading at Rs565.90 up by Rs58.95 or 11.63% from its previous closing of Rs506.95 on the BSE.
GRUH Finance Ltd is currently trading at Rs295.60 up by Rs22.85 or 8.38% from its previous closing of Rs272.75 on the BSE.
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