At 9:390 am, the stock of IndusInd Bank was ruling 3.4 per cent higher at Rs 628 on the BSE, and was the top gainer on the 30-share Sensex index. In comparison, the benchmark index was down 0.33 per cent at 40,553 levels. Kotak Mahindra Bank, on the other hand, slipped to a low of Rs 1,373 apiece, down 0.7 per cent on the BSE. It hit an intra-day high of Rs 1,400 per share.
If the deal goes through, Kotak Mahindra Bank
could emerge as one of India's leading private banks, boosting its assets by about 83 per cent. It would also throw a lifeline to IndusInd Bank, which has seen its market value drop 60 per cent to $6 billion this year after being hit by concerns over worsening asset quality and an erosion of low-cost deposits, the report said. READ HERE
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