Shriram, IDFC Group shares trade mixed after merger deal called off

Shriram City Union Finance rallied 4.5% to Rs 2,284, while Shriram Transport Finance trading 1% lower at Rs 1,169 after hitting a 52-week high of Rs 1,200 in early morning deal

Shares of Shriram Group companies such as Shriram Transport Finance and Shriram City Union Finance were trading higher by up to 4% on the BSE as the talks of merger with IDFC Group have called off after failing to agree on a swap ratio.

Shriram City Union Finance has rallied 4.5% to Rs 2,284 on the BSE in intra-day trade while Shriram Transport Finance was trading 1% lower at Rs 1,169 after hitting a 52-week high of Rs 1,200 in early morning trade.

IDFC Bank and IDFC were down 1% each at Rs 55 and Rs 61, respectively,