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Punjab & Sind Bank, Indian Overseas Bank shares rise high on news of merger with PNB, Bank of Baroda
April 24, 2017
- Indian Overseas Bank and Punjab & Sind Bank shares today hiked on the news of proposed merger with Bank of Baroda and Punjab National Bank, respectively.
- Shares of Punjab & Sind Bank were trading up 6.35% at Rs 61.1 on NSE, hitting a 26-month high.
- Shares of Indian Overseas Bank rose 5.22% to Rs 29.2 at the day’s high.
- Meanwhile, the shares of the potential acquiring banks too rose. Shares of Bank of Baroda, India’s second-largest state-run lender were up 2.87% at Rs 181 on the proposed amalgamation of Indian Overseas Bank.
- While the shares of Punjab National Bank, India’s third-largest state-run bank, rose 2.95% to its day’s high of Rs 163.5.
