Vijaya Bank to acquire North India based Bank : Acquisition news boosts stock prices

There is a buzz in the market that Vijaya Bank is planning to acquire a north India based bank. As per unconfirmed reports, Vijaya Bank has identified three banks and is likely to select one bank from the three banks shortlisted. By this acquisition, Vijaya Bank intends to boost its presence in North India. Vijaya Bank stock was up by over 4% after this news hit the markets. Vijaya Bank shares are now trading at Rs. 55.50 close to its 52 week high of Rs. 58.50.