Bank of India surges on deal with AXA Group

BSE 24 May 12 | 12:00 AM

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Bank of India surges on deal with AXA Group

SI Reporter / Mumbai 05 Dec 11 | 09:47 AM

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Bank of India surged 2% post the news that the bank has agreed to enter into a joint venture with AXA Investment Managers in the asset management business in India.

In the proposed joint venture, Bank of India will acquire 51% of the equity and the balance will be with AXA Group.

In intra-day deals, the stock opened at Rs 341 and touched the high of Rs 350. The counter has seen trades around 77,000 shares so far on the BSE and NSE.