Kotak Mahindra Bank announced its ING Vysya Bank today. Ahead of the announcement, shares of the two companies saw sharp gains, with Kotak rising 8 per cent and ING Vysya soaring as much as 14 per cent. Both stocks hit their 52-week highs and outperformed the broader markets.

Anand Mahindra, chairman and MD, Mahindra Group posted this confirmatory tweet moments ago: @anandmahindra  Congratulations @udaykotak on a brilliant merger move. The enormous synergies are obvious..