ICICI Bank::Bank of Rajasthan Merger Stock Price Anlaysis

Trade Minister Anand Sharma says April exports up 36 percent year on year with Bank of Rajasthan 9:47pm IST May 18.

ICICI Bank, India's No.2 lender, said on Tuesday its board had approved a deal to merge with Bank of Rajasthan.ICICI Bank said it would give 25 ICICI bank shares for 118 shares of Bank of Rajasthan.-Said ICICI Bank on May 18

On Thu May 6, 2010 The Economic Times broke the story that ICICI Bank is trying for a stake in Bank oF Rajasthan.On May 6- The stock opened up.

moneycontrol — March 09, 2010 — Denying SEBIs allegation regarding transfer of funds, Bank of Rajasthan Promoter PK Tayal said there had been no such transfers between various entities.


"A stock which is in trouble, not just from RBI but from SEBI" - Udayan Mukherjee.

Highlights
SEBI bans 100 entities related to Bank of Rajasthan
Banned several member from Tayal family
Tayal family is promoter of the bank
SEBI banned promoters of bank from all stock market activities
SEBI acted on reference from RBI
SEBI conducted an investigation into shareholding pattern in BoR since 2007
Investigation revealed entities acting in connivance with Tayals to corner shares
Bank shown promoter holding dipped from 44.2% to 28.6%
SEBI investigation Tayal actually controlled 55% in the bank

Stock of BankoFRajasthan responded 20% up.

Bank of Rajasthan BSE
Last Trade: 99.50 INR
16.55 (19.95%)
Trade Time: 03:59 PM IST
Previous Close: 82.95
Day's Range: 82.50 - 99.50
52-week Range: 44.30 - 98.00
Volume: 11,053,316
Avg. Volume: 2,937,073
Exchange: BSE

Stock of ICICI responded down.
ICICI Bank BSE
Last Trade: 889.35 INR
-13.05 (-1.45%)
Trade Time: 03:58 PM IST
Previous Close: 902.40
Day's Range: 884.00 - 902.55
52-week Range: 606.70 - 1,009.50
Volume: 567,995
Avg. Volume: 658,125
Exchange: BSE

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