Shares of Suryoday Small Finance Bank extended gains for the second straight day on Tuesday after reports said Clix Capital Services is in merger talks with the lender.
At 14:42, the stock was trading 18.2 percent higher at Rs 212 on the BSE. The scrip has jumped nearly 44 percent in the past two sessions on the merger buzz.
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The small finance bank is exploring both organic and inorganic opportunities to grow and bring down its exposure to unsecured loans. A merger with an NBFC or a bank would help in product diversification on the assets side, as per reports.
The exchange had asked Suryoday Small Finance Bank for a clarification, in response to which the lender said, "We are unable to comment on media speculation and rumours and it would be inappropriate on our part to do so."
But it added, “Please be further informed that the management of the Bank continues to explore and evaluate various opportunities or associations in the interest of the Bank, as and when considered appropriate, which is always a subject matter of further feasibility studies and the need for requisite consents in accordance to applicable law and other stakeholders”.
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