Dhanlaxmi Bank extends rally on heavy volumes

At 0952 hours, the stock was up 8% at Rs 41.10 compared with a 1.4% decline in the CNX Nifty and 2% fall in Bank Nifty.

Shares of the private sector lender Dhanlaxmi Bank have surged 14% to Rs 43.40 on the NSE in early morning trade, on the back of heavy volumes, amid reports that Kotak Mahindra Bank is looking to acquire the Kerala-based lender. CLICK HERE TO READ FULL REPORT.

On Monday, the stock was locked at the upper circuit of 20% at Rs 37.95 on the NSE.

The trading volumes on the counter jumped over five-fold, with a combined 4.25 million shares changing hands on the NSE and BSE so far.

At 0952 hours, the stock was up 8% at Rs 41.10 on the NSE compared with 1.4% decline in the CNX Nifty and nearly 2% fall in Bank Nifty.