Friday, 21 November 2014

Todays Equity Market Trends and Analysis

Kotak Mahindra Bank surges as much as 9.3 pct to 1,264.70 rupees, its second consecutive record high.Kotak buys ING Vysya Bank in record $2.4 bln share deal.Acquisition of ING Vysya at a swap ratio of 0.72 times better than the 0.8 times ratio mentioned in a news channel report -Nomura says in a note.

The merger will add 10 pct to earnings and 15 pct to networth of Kotak, Nomura adds.ING Vysya shares also gain 2.4 pct.Combined entity's market capitalisation will be more than Axis Bank - Reuters calculations.Will create India's fourth largest private sector bank by branch network.

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