Indian banks stock rallied and rose in the range of 4-18 percent during the afternoon trade after the strong earning in the second quarter of the current financial year and ahead of Diwali holidays. RBL Bank zooms over 9 percent after Emirates NBD announced plan to acquire a majority stake in the bank.

According to the BSE, South Indian Bank stock rose 18.62 percent in afternoon trade to Rs 38.74 a share, DCB Bank shares were trading 13.43 percent higher to Rs 146.10 a share, and Federal Bank shares rose 7.49 percent to Rs 228.30 a share.

Further, Bank of India’s stock was up 5.15 percent, Bank of Maharashtra was up by 4.47 percent, Indian Bank was up by 4.29 percent, Indian Overseas Bank was up by 4.92 percent, Punjab National Bank was up by 4.48 percent, and Canara Bank was up by 2.95

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