Dev Bikas Bank likely to merge with commercial bank; Price & volume of shares traded on rise

 There is a rumor that Dev Bikas Bank Limited (DBBL) is going to merge  with a commercial bank. The effect of such rumor can be seen in the price, transaction and shares traded of Dev Bikas Bank.

There has been a sudden rise in the price and transaction of Dev Bikas Bank. From past two trading days, Dev Bikas Bank has positioned itself in the top 10 gainers list, top 10 stock number by transaction and top 10 stocks by shares traded.

On January 26, 37,639 unit shares of Dev Bikas Bank were traded today and its share price increased by 9.95% to close at Rs 210.

On January 27, 66,958 unit  shares of Dev Bikas Bank were traded today and its share price increased by 10% to close at Rs 231.

On January 28, 41,440 unit  shares of Dev Bikas Bank were traded today and its share price decreased by 4.76% to close at Rs 220. As volume of shares being traded is still significant the fall in share price shows correction after hitting circuit for two consecutive days.

If we were to look at the three days data we can conclude that the unusually higher volumes of shares of DBBL is being traded at comparatively higher prices. The investors are hopeful that the merger with a commercial bank would give them a better position at the end.