Bandhan Bank, Gruh Finance decline on media reports suggesting their merger

Bandhan Bank has dipped 5 per cent to Rs 504, falling 7 per cent from its opening level on the BSE, while Gruh Finance slipped 4 per cent to Rs 307, declining 7 per cent from intra-day high level.

Shares of Bandhan Bank and Gruh Finance have fallen by up to 5 per cent on the BSE in intra-day trade in an otherwise firm market amid reports of a merger between the two.

According to media reports, Bandhan Bank and Housing Development Finance Corporation (HDFC)-controlled Gruh Finance are set to merge through a share swap deal.

Bandhan Bank has dipped 5 per cent to Rs 504, falling 7 per cent from its opening level on the BSE. The stock was trading lower for the fourth straight day, down 9.5 per cent during the period. Gruh Finance slipped 4