Vijaya Bank, Dena Bank fall; BoB gains on fixing swap ratio for merger

Dena Bank plunged 20% to Rs 14.40 and Vijaya Bank slipped 7% to Rs 47.25, while Bank Baroda was up 3% at Rs 123 on the BSE in intra-day trade.

Shares of Vijaya Bank and Dena Bank have fallen by up to 20% on the BSE in early morning trade on Thursday following an unfavorable share-swap ratio on their merger with Bank of Baroda.

Dena Bank has plunged 20% to Rs 14.40 on the BSE. The stock was trading close to its 52-week low of Rs 13.75 touched on July 16, 2018, in intra-day trade. A combined 5.95 million equity shares changed hands on the counter on the BSE and NSE till 09:21 am.

Vijaya Bank slipped 7% to Rs 47.25 in intra-day trade so far. The stock of