
Investors continue to dump Lakshmi Vilas Bank shares; stock tanks over 48 pc in 5 days
Team Udayavani, Nov 23, 2020, 12:21 PM IST

New Delhi: Shares of Lakshmi Vilas Bank declined for the fifth consecutive day on Monday and have tanked over 48 per cent during this time as investors continued to desert the counter amid host of negative news surrounding the company.
On Monday, the stock plunged 10 per cent to Rs 8.10 — its lower circuit limit as well as one year low — on the BSE.
On the NSE, it plummeted 10 per cent to Rs 8.10 — its lowest trading permissible limit for the day.
In five trading days, the stock has tanked 48.24 per cent on the BSE.
On Tuesday, the government placed Lakshmi Vilas Bank (LVB) under a one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor.
The step was taken by the government, on the advice of the Reserve Bank of India, in view of the declining financial health of the private sector lender.
LVB is the third bank to be placed under moratorium since September last year after the cooperative bank PMC in 2019 and private sector lender Yes Bank this March. While Yes bank has successfully been revived under the guidance of State Bank, the PMC resolution is still a far cry.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More

RBI likely to maintain pause on interest rate as inflation moves southwards: Experts

Develop digital platform for customers’ consent for promotional calls, sms: Trai directs service providers

Average time taken for issuing I-T refunds reduced to 16 days in 2022-23: CBDT chairman

Away from skies for one month: Go First crisis pushes airfares higher, staff face uncertain times

SBI Life to takeover liabilities of 2 lakh policies, assets of Sahara India Life Insurance: Irdai
MUST WATCH
Latest Additions

Odisha train tragedy: US Secretary of State Blinken speaks to EAM Jaishankar

‘Tiffin Pe Charcha’ campaign: UP CM interacts with party workers in Gorakhpur

Naxal violence dropped by 70 pc under Modi govt, it was on rise during UPA rule: BJP

Odisha train crash: Driver error ruled out, possible sabotage being probed; minister says people behind ‘criminal’ act identified

Over 1,500 passengers stuck at Byappanahalli Rly stn in Bengaluru following Odisha train mishap