Bandhan Bank shares zoomed 15 per cent on Friday amid reports that the stock will be added to the MSCI index. The scrip jumped 15.08 per cent to close at Rs 583.40 on the BSE. During the day, it advanced 19.99 per cent to Rs 608.30 — its upper circuit limit.
On the NSE, it climbed 14.70 per cent to close at Rs 581.15.
In terms of the traded volume, 11.67 lakh shares were traded on the BSE and over one crore units on the NSE.
In a tweet on Friday, Motilal Oswal Financial Services Ltd said “Bandhan Bank is getting added MSCI index effective 16th October on effect of Gruh Finance getting merged with Bandhan Bank.”
Shares of Gruh Finance also jumped 11.04 per cent to close at Rs 302.85 on the BSE.
Gruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over by Bandhan Bank in a share-swap deal in January.
MSCI is a leading provider of benchmark indices globally.
Source: Economic Times