India: Kotak Mahindra, Axis Bank shares rise on merger rumours

India: Kotak Mahindra, Axis Bank shares rise on merger rumours

Shares of private sector lenders Axis Bank Ltd and Kotak Mahindra Bank Ltd have risen 3.38% and 8.31%, respectively, over the past month, fuelled by rumours of a potential merger of the two, even as the two lenders have denied any such development.

The Bankex has gained 5.92% and the broader BSE Sensex 3.71% in the same period.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter