Gruh Finance hits 14-month low; tanks 24% in three trading days

The stock down 5% to Rs 243, trading at its lowest level since November 10, 2017, after Bandhan Bank on January 7, 2019 announced amalgamation of Gruh Finance with the bank through a share swap ratio.

Shares of Gruh Finance continued under pressure hitting 14-month low of Rs 243, down 5% on BSE, in an otherwise firm market.

The stock of housing finance company tanked 24% in the past three trading days after Bandhan Bank on January 7, 2019, announced amalgamation of Gruh Finance with the bank through a share swap ratio. It was trading at its lowest level since November 10, 2017. In comparison, the S&P BSE Sensex was up 1% during the same period.

Bandhan Bank was trading 3% lower at Rs 463, falling 16% in the past one week.

As per