March 8, 2017 / 9:45 AM / 5 months ago

BUZZ-India's Bharat Financial gains on talks of merger deal with IndusInd

1 Min Read

** Shares of non-banking financial company Bharat Financial Inclusion Ltd gain as much as 5.35 pct

** Bharat Financial is close to a merger deal with IndusInd Bank Ltd, ET Now tweets, citing unidentified sources bit.ly/2m1p9Kw

** Deal values Bharat Financial at about 130 bln rupees ($1.95 billion), ET Now tweets, adding that the merger ratio discussed would be 10 shares in Bharat for 7 IndusInd Bank shares

** A spokesperson for Bharat Financial said the company would not comment on "market speculation", while IndusInd Bank declined to comment

** Bharat Financial stock up about 39 pct this year as of Tuesday's close ($1 = 66.7200 Indian rupees)

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