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Billionaire Kotak Buys ING Vysya in Record Indian Deal

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Billionaire Uday Kotak’s bank surged to a record in Mumbai stock trading after it agreed to buy ING Vysya Bank Ltd. for 150 billion rupees ($2.4 billion).

Kotak Mahindra Bank Ltd. jumped 6.3 percent to 1,229.10 rupees at 10:24 a.m. local time. ING Vysya, the only Indian lender controlled by an overseas company, gained 3.8 percent to