Suryoday Bank 'Clix's'

Suryoday Small Finance Bank (SSFB) is in the limelight today. The stock, which had closed yesterday at Rs.179.40, opened today at Rs.193 and went up to an intraday high at Rs.209.40 and is now trading at Rs.198.

The stock has been on the rise since yesterday on news that the bank and Clix Group are in the merger talks. This rumour emerged comes in the backdrop of the proposed amalgamation of Clix Group with the erstwhile financially distressed Lakshmi Vilas Bank (LVB), which did not happen last year.

SSFB issued a clarification neither denying nor agreeing, stating, “would like to clarify that we are unable to comment on media speculation and rumours and it would be inappropriate on our part to do so.”

Business Standard reported that Clix Capital Services is in merger talks with SSFB, saying that due diligence is already on for the proposed merger, which is in a fairly advanced stage and the deal is expected to be closed soon.