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@article{197798,
        author = {Govind Kulkarni and Kalp Mehta and Mayank Kherajani and Samarth Kumar},
        title = {Impact of Mergers and Acquisitions on Stock Price Performance of Indian},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {11},
        pages = {6955-6962},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=197798},
        abstract = {Bank consolidation through mergers and acquisitions (M&A) has emerged as a pivotal strategy for reforming and reinforcing India's banking landscape. In recent years, institutions across both the public and private domains have pursued amalgamation to sharpen operational effectiveness, strengthen financial soundness, and enhance competitive positioning. This study investigates how landmark banking mergers have shaped stock price dynamics within the Indian banking industry. Secondary data sourced from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) form the empirical foundation of this research. Seven prominent bank mergers between 2017 and 2023 were selected for examination. Stock price trends are evaluated using the Volume Weighted Average Price (VWAP), which captures market performance both preceding and following each merger event. A paired sample t-test is then applied to assess whether the observed price differences carry statistical significance. The findings indicate that public sector bank mergers were generally accompanied by notable shifts in stock prices following consolidation, pointing to substantial market responsiveness to state-directed restructuring initiatives. Private sector mergers, by contrast, exhibited largely stable stock price trajectories, with outcomes that lacked statistical significance in most instances. The study draws attention to the role of investor perceptions and ownership structure in collectively determining how capital markets respond to consolidation events.},
        keywords = {Mergers and Acquisitions, Banking Sector, VWAP, Stock Price, Indian Banks},
        month = {April},
        }