Global Cues Lift Sensex Over 150 Pts, Midcap Outperforms; L&T Rallies

Shares of IndusInd Bank and Bharat Financial Inclusion rose 1-2 percent in early trade as investors reacted to developments around a possible deal between the two entities.

Early on Monday, the private sector lender informed exchanges that it had entered into an ‘exclusivity agreement’ with the micro lender in a bid to explore a merger or expansion plans.

The transaction between the two companies would be subject to due diligence, agreement on the appropriate on the appropriate transaction structure, definitive documentation and Board, shareholders, regulatory, NCLT and other third-party approvals, as applicable, the release said.

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