Bandhan Bank, Gruh Finance down up to 4% on denial of merger report

Bandhan Bank dipped 4% to Rs 507, extending its past three days 7% decline, while Gruh Finance was down 2% to Rs 323 after it rallied 10% in the past three trading days on BSE.

Shares of Bandhan Bank and Gruh Finance were trading lower by up to 4% on BSE after these companies denied the merger report.

Bandhan Bank has dipped 4% to Rs 507, extending its past three days 7% decline on BSE. The stock had strong run-up and rallied 22% in five days, from Rs 469 on December 11, to Rs 570 on December 18, after the Kolkata-based private sector lender received prior approval from the Reserve Bank of India (RBI) to open new branches.

“Bandhan Bank evaluates various opportunities on a continuous basis and the Bank, as a matter