ING Vysya Bank Ltd clarifies on strike notice

The Exchange had sought clarification from the Bank with respect to news appearing in Business Standard on December 29, 2014 titled "ING Vysya Bank staff to strike on January 7."

The Bank has replied stating that the Bank Employees Union and Officers Association have given a Notice to go on Strike on January 7, 2015 against our proposed merger with Kotak Mahindra Bank.

It may also be noted that the UFBU (United Forum of Bank Unions) has given a Notice to IBA for Industry wide Strike on January 7. 201 5 - 1 day and January 21 -24, 2015 - 4 days demanding Wage Revision to be settled immediately.

The company confirms that no events which mandate a disclosure to the stock exchanges as per the provisions of clause 36 of the Listing Agreement (read with the guidance note issued by the Securities and Exchange Board of India in relation to clause 36 of the Listing Agreement (NSE/CML/2014/11 dated September 30, 2014) have taken place.

As communicated previously, we are aware of the Bank's disclosure obligations under Clause 36 of the Listing Agreement. The Company will abide by its obligations to make appropriate disclosures as and when such disclosures are necessitated by decisions taken by the Bank.

Shares of ING VYSYA BANK LTD. was last trading in BSE at Rs.869.1 as compared to the previous close of Rs. 859.95. The total number of shares traded during the day was 8952 in over 1800 trades.

The stock hit an intraday high of Rs. 872.5 and intraday low of 853.35. The net turnover during the day was Rs. 7730684.

Source : Equity Bulls

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