Kotak Mahindra Bank and ICICI Bank Deny Merger Talks; Stocks Surge on Rumours

Kotak Mahindra Bank and ICICI Bank issued separate statements denying any ongoing merger discussions after media reports speculated a potential ₹4 lakh crore consolidation. Kotak stock rose 8% and ICICI gained 6% on the BSE on trading volumes four times the 30-day average. Market analysts remain divided on the long-term viability of such a merger. Source: Bloomberg-Quint.

Generated by Straico · Source: Bloomberg-Quint