TRADE NIVESH Shares of Bandhan Bank jumped up to 20 per cent during Friday's trading session. After this the upper circuit was started in this stock. It is reported that this stock is going to be a part of MSCI index, due to which it gained a lot of momentum.
Home Finance shares also jumped up to 15 per cent. Gruh Finance is going to merge with Bandhan Bank soon. Motilal Oswal said in a tweet, "Bandhan Bank is going to be included in MSCI index from October 16 after merger with Gruh Finance."
By 9.45 am, the stock of this bank was trading at a level of Rs 588 with a jump of Rs 81. However, till 11.30 am, the share price was up 9.65 per cent to Rs 555.85. Due to the Upper Circuit, its business was stopped for some time.
Till 11.30 pm, the shares of Home Finance were also up 7.79 per cent at Rs 294. The National Company Law Tribunal (NCLT) has recently given necessary approvals related to the merger of these two. Bandhan Bank is headquartered in Kolkata, while Home Finance is a company based in Ahmedabad.
The Kolkata and Ahmedabad benches of NCLT have granted these approvals. October 17 is seen as the date of merger of the two and on the basis of this day, shareholders will be given shares of the new entity.
Due to the merger of Bandhan Bank with Gruh Finance, its total loan portfolio will reach Rs 45,400 crore. In this, the role of micro loans will be the biggest, whose total share will reach around 85 percent.
Home Finance shares also jumped up to 15 per cent. Gruh Finance is going to merge with Bandhan Bank soon. Motilal Oswal said in a tweet, "Bandhan Bank is going to be included in MSCI index from October 16 after merger with Gruh Finance."
By 9.45 am, the stock of this bank was trading at a level of Rs 588 with a jump of Rs 81. However, till 11.30 am, the share price was up 9.65 per cent to Rs 555.85. Due to the Upper Circuit, its business was stopped for some time.
Till 11.30 pm, the shares of Home Finance were also up 7.79 per cent at Rs 294. The National Company Law Tribunal (NCLT) has recently given necessary approvals related to the merger of these two. Bandhan Bank is headquartered in Kolkata, while Home Finance is a company based in Ahmedabad.
The Kolkata and Ahmedabad benches of NCLT have granted these approvals. October 17 is seen as the date of merger of the two and on the basis of this day, shareholders will be given shares of the new entity.
Due to the merger of Bandhan Bank with Gruh Finance, its total loan portfolio will reach Rs 45,400 crore. In this, the role of micro loans will be the biggest, whose total share will reach around 85 percent.
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