Shares of Bandhan Bank hit a six-month high of Rs 335 in an otherwise weak market, up 4 per cent on the BSE in Tuesday’s intra-day trade. The stock of the private sector lender rebounded 6 per cent from its intra-day low of Rs 317.40. The stock hit its highest level since October 2021 and was close to its 52-week high level of Rs 354.10 on June 28, 2021. In comparison, the S&P BSE Sensex was down 0.47 per cent at 58,686 points at 02:47 PM.

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In the past three trading days, Bandhan Bank has gained 9 per cent after housing finance major Housing Development Finance Corporation (HDFC) on Friday, April 8, 2022, divested 49.63 million shares, representing 3.08 per cent of the total equity of the bank, through an open market transaction.

According to the bulk deal data available with the BSE, Societe Generale picked up 19.08 million shares of the Bandhan Bank for Rs 306.55 per piece at an estimated Rs 585 crore.