Dhanlaxmi Bank has surged 12% at Rs 64.40, extending its previous day’s 3% gain, on back of huge volumes.

As many as 8.07 million shares, representing 9.5% of the total equity capital of the bank, have changed hands on the counter so far, against an average 1.23 million shares that were traded daily in past two weeks on the NSE and BSE.

On Monday, February 6, Amitabh Chaturvedi, managing director and chief executive of the private sector lender submitted his resignation, three years after he took charge, due to serious disagreement with other board members over the functioning and management of the bank’s operations.

The bank’s board accepted his resignation. P G Jayakumar, the executive director of the bank, will replace Amitabh Chaturvedi.