INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Lakshmi Vilas Bank shares jumped 5 per cent on Monday on reports that its board approved a scheme of amalgamation with lndiabulls
The scrip surged 4.96 per cent to hit a high of Rs 97.35
This was against 0.14 per cent rise in the BSE Sensex
Meanwhile, the shares of Indiabulls Housing Finance were trading 0.27 per cent lower at Rs 900.70 on BSE.
While IBHF stock could rise some
more, reflecting the rerating possibilities due to the transaction, the wide difference in the prices could mean LVB could rise more to fill
With capital to risk assets ratio (CRAR) of 7.7 per cent, of which common equity tier (CET) 1 is 5.6 per cent and gross and net
nonperforming assets (NPAs) of 13.9 per cent and 7.6 per cent, LVB is teetering on the edge of prompt corrective action and is in dire need
of capital even after the previous qualified institutional placement
