IndusInd Bank gains 4% on buzz Kotak Mahindra Bank exploring takeover
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MUMBAI, Oct. 26 -- IndusInd Bank rose as much as 4.2% on Monday following reports that Kotak Mahindra Bank is exploring a potential takeover of the l.
At 02:45 pm, IndusInd Bank stock was trading at Rs.617.05, up 1.58% from its previous close, while the benchmark index, Sensex lost 1.52% at 40065. Kotak Mahindra Bank gained 1.29%% to Rs.1400.90.
Mint reported on Sunday that Kotak Bank is looking at an all-stock acquisition. The UK-based Hinduja family had began the discussion for selling control of the Mumbai-based lender following a dispute between the four brothers over the family's fortune.
As on September, the promoter group held 13.45% in Indusind Bank. Public shareholding stood at 78.16%.
Indusind Bank, in a release to the excha...
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