Bandhan Bank jumps over 6% on RBI's approval to open new branches

 Shares of Bandhan Bank jumped over 6 per cent Thursday after the Reserve Bank allowed the private bank to open new branches.

The stocks of the Kolkata-based bank opened on a bullish note and gained 5.99 per cent to end at Rs 501.70 on the BSE, after touching a high of Rs 514.50 during the intra-day trade.Similarly, on NSE the stock rose 6.79 per cent to close at Rs 504. In intra-day trade, the scrip touched high of Rs 514.80.

In terms of volume, a total of 27.63 lakh units were traded on the NSE, while over 2.19 lakh shares changed hands on the BSE.On Wednesday, the bank's chief executive X said the bank would add another 40 branches by December 31, thereby taking the total number to 978 after the prior approval from RBI.The Reserve Bank of India had earlier imposed restrictions on Bandhan Bank's branch expansion, after it failed to pare promoters' stake to 40 per cent from close to 82 per cent, within the stipulated three-year time frame.