Gruh Finance declines 14.37% on merger news

Shares of Housing Finance company and subsidiary of HDFC Ltd, GRUH Finance Ltd fell 14.37% to Rs. 262.20 against the previous close of Rs. 306.20, after the announcement of merger with Bandhan Bank Ltd.

The announcement of merger of Gruh Finance Ltd with Bandhan Bank came after market hours on Monday (January 7, 2019). Shareholders of GRUH Finance will get 568 shares of Bandhan Bank for every 1000 shares in the company.

The shares opened at Rs. 276 and hit an intraday high of Rs. 283 during the day's trading. The stock has a 52 week high of Rs. 381.95 and low of Rs. 244.10.

Source : Equity Bulls

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