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Bandhan Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 40591.81 Crore).

The stock quoted a 52-week high of Rs 169.4 and a 52-week low of Rs 93.2.

Following the development, brokerage firm Jefferies said, "If the acquisition fructifies, it will enable Dalmia to expand its footprint into the Central Region and add one more region to its vision of emerging as a pan India cement player. Deal timelines, additional required capex, limestone reserves are key for the company.”

A total of 4,477 shares changed hands on the counter till 11:42AM (IST).

Focus shifts on to the US consumer price index (CPI) data for November due later in the day and the US central bank’s final meeting of this year scheduled on December 13-14.

The company’s top management includes Mr.Sridhar Balakrishnan. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 19 Crore shares outstanding.

“The two macroeconomic data which came yesterday have significant implications for the market. The CPI inflation for November at 5.88 % is below the RBI’s upper tolerance limit. This is good news. But the bad news is that the Index of Industrial Production (IIP) shows a contraction of 4 % in October,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

JP Morgan maintained its overweight rating on Dalmia Bharat with a target price of Rs 1845. Proposed acquisition at attractive valuations which will give Dalmia a pan-India footprint, it said.

Short-term traders who missed the bounce can look at buying the stock now or on dips for a target of Rs 285 in the next 3-4 weeks, suggest experts.The stock rallied from Rs 225 recorded on November 11, 2022, to Rs 264 as on December 12 which translates into an upside of over 17%.

The Nifty Realty index was trading 0.49 per cent down at 447.4.