Bank of Baroda shares slump 14%, Dena Bank and Vijaya Bank rise 10-20% after merger news

Shares in Bank of Baroda plunged more than 14 percent on Tuesday, posting their biggest daily percent fall since January 2015, after the government announced its merger with Vijaya Bank and Dena Bank a day earlier.

Vijaya Bank shares rose as much as 10 percent to trade at Rs 66, highest since January this year, while Dena Bank shares, the smallest of the three entity to be merged, hit upper circuit, rising as much as 19.81 percent to Rs 19.05.

Dena Bank share's near 20 percent rally was the biggest daily percent gain since January 2008.