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<ul><li><keyword id="135860" type="COMPANY" weightage="20" keywordseo="Lakshmi-Vilas-Bank">Lakshmi Vilas Bank</keyword>’s share price was down by nearly 5% during morning trade. </li><li>After shareholders ousted seven directors from the board, red flags over the <keyword id="3660661" type="PERSON" weightage="20" keywordseo="Clix-Capital">Clix Capital</keyword> merger have risen. </li><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has reportedly informed the public-sector <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> (PNB) to be prepared to take over in case the Lakshmi Vilas-Clix merger does not materialise. </li></ul>The share price of Lakshmi Vilas Bank is in the red today, plummeting by nearly 5%, which is a further indication of shareholders losing their confidence in the bank. <div type="image" title="Lakshmi Vilas Bank share price" msid="78399788" hostid="261" caption="&amp;lt;p&amp;gt;Lakshmi Vilas Bank share price over the month of September&amp;lt;/p&amp;gt;"></div> The Reserve Bank of India (RBI) has reportedly sought out Punjab National Bank (PNB). According to the <a href="https://www.business-standard.com/article/finance/rbi-sounds-out-pnb-on-acquisition-of-beleaguered-lakshmi-vilas-bank-120092901633_1.html">Business Standard</a>, RBI told the public sector bank to be ready to take over Lakshmi Vilas Bank in case the proposed deal with Clix Capital doesn’t materialise. The crisis at Lakshmi Vilas Bank On Monday, they threw out seven of the bank’s ten directors. According to the Investor Advisory Services (IIAS), these directors lacked accountability. Now, its day-to-day operations are being looked after by a panel of three independent directors approved by the Reserve Bank of India (RBI). “With Liquidity Coverage Ratio (LCR) of about 262% as on 27th September 2020, against minimum 100 % required by RBI, the deposit-holders, bond-holders, account-holders and creditors are well safe guarded,” the bank said in its filing on Sunday. What the bank didn’t mention in its press release and why its shareholders are being angsty is because, as of last quarter, its Tier I capital-to-risky asset ratio (CRAR) is a negative 0.88% and its non-performing assets (NPAs) account for a quarter of its advances. Ousting the Lakshmi Vilas Bank’s directors During the annual general meeting (AGM) the week before, on Friday, shareholders voted against the appointment of S Sundar as Lakshmi Vilas’ CEO, a candidate approved by the RBI. Sundar took over as interim CEO on January 1 after Parthasarthi Mukherjee’s resignation a few months earlier. Before taking up the post, he served as the bank’s CFO. The shareholders also voted against the reappointment of six other directors — including N Saiprasad and KR Pradeep, who are also promoters within Lakshmi Vilas. “What we see in smaller, community-driven, private banks is promoters dominating the show. That isn’t desirable of a banking institution handling public money,” sources told <a href="https://www.moneycontrol.com/news/business/lakshmi-vilas-bank-agm-section-of-shareholders-vote-against-re-appointment-of-7-directors-and-auditors-5889341.html">MoneyControl</a> after the dramatic AGM on the condition of anonymity. What’s next for Lakshmi Vilas Bank? Institutional investors <a href="https://www.moneycontrol.com/news/business/lakshmi-vilas-bank-to-raise-rs-1500-crore-to-fund-business-growth-increase-foreign-shareholding-5805231.html">estimate</a> that the bank will need at least ₹1,500 crore of immediate capital to get back on its feet. If it doesn’t happen, the RBI will likely have to step in. It could either accelerate the ongoing Clix-Lakshmi Vilas deal or appoint its representatives to the bank’s board to oversee the day-to-day operations until a solution emerges. It wouldn’t be the first time that the central bank has pushed for the merger of a weaker banking institution with a strong candidate, like ICICI Bank and Bank of Rajasthan merger in 2013. However, Lakshmi Vilas’ did try to merge with Indiabulls and another NBFC in the past. Both deals never got a nod from the RBI. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms">Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore</a>

Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen

<ul><li>The Central government on Tuesday brought <keyword id="135860" type="COMPANY" weightage="20" keywordseo="Lakshmi-Vilas-Bank">Lakshmi Vilas Bank</keyword> under <keyword id="117489" type="PERSON" weightage="20" keywordseo="moratorium">moratorium</keyword> for 30 days, restricting deposit/withdrawal not exceeding ₹25,000.</li><li>The moratorium came into effect from 6 p.m. on Tuesday and will be in place up to December 16, 2020. </li></ul>Following an application submitted by the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>), the Central government on Tuesday brought Lakshmi Vilas Bank under moratorium for 30 days, restricting deposit/withdrawal not exceeding Rs 25,000. The Centre issued the moratorium notification under Section 45 (2) of the Banking Regulation Act, 1949. The moratorium came into effect from 6 p.m. on Tuesday and will be in place up to December 16, 2020. The notification also stays the commencement or continuance of all actions and proceedings against Lakshmi Vilas Bank. During the period of moratorium, subject to the condition that such stay shall not in any manner prejudice the exercise by the Central government of its powers under Clause (b) of Sub-section (4) of Section 35 of the said Act or the exercise by the Reserve Bank of India of its powers under Section 38 of the said Act. As per the notification, Lakshmi Vilas shall not without the permission in writing of RBI: * Make payment to a depositor an aggregate sum exceeding Rs 25,000 lying to his credit in any kind of deposit including multiple deposit. * Wherever such depositor is having dues payable to the bank in any manner, either as a borrower or surety, the amount payable to such depositor shall be made after adjusting the relevant borrowal accounts. * Payment to bank creditor cannot exceed Rs 25,000, subject to following exceptions: (i) making of payment of amounts towards any drafts or pay orders issued by the Lakshmi Vilas Bank and remaining unpaid on the date on which the order of moratorium comes into force; (ii) paying the proceeds of the bills received for collection on or before the 17th day of November, 2020; (iii) making payment towards existing liabilities for call money or inter-bank borrowing (iv) trades effected prior to the date of moratorium for which settlement is yet to take place. * Grant any loans or advances or make investments in any credit instruments. According to the notification, the RBI may by a general or special order permit Lakshmi Vilas Bank to allow pay to its depositors an amount in excess of Rs 25,000 to meet unforeseen expenses towards (a) medical treatment of the depositor or any person actually dependent on him (b) towards the cost of higher education of the depositor or any person actually dependent on him for education in India or outside India; (c) to pay obligatory expenses in connection with marriage or other ceremonies of the depositor or his children or of any other person actually dependent upon him (d) in connection with any other unavoidable emergency if there is sufficient credit in his account. However, the sum such paid shall not exceed Rs 5 lakh or the actual balance lying to the credit of the account of such depositor, whichever is less. The Central government also directed Lakshmi Vilas Bank to pay for repaying loans or advances granted against government securities or other securities to it by the RBI or the State Bank of India or by any other bank and remaining unpaid on the date on which this order comes into force. Lakshmi Vilas Bank is permitted to operate its accounts with the RBI or with any other bank for the purpose of making the payments aforesaid. The bank may release or deliver goods or securities which have been pledged, hypothecated or mortgaged or otherwise charged to it against any loan, cash credit or overdraft: (i) In any case in which full payment towards all the amounts due from the borrower or borrowers, as the case may be, has been received by it, unconditionally. (ii) In any other case, to such an extent as may be necessary or possible, without reducing the proportions of the margins on the said goods or securities below the stipulated proportions or the proportions which were maintained before this Order came into force, whichever may be higher. 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Lakshmi Vilas Bank under moratorium— RBI caps maximum deposit or withdrawal at ₹25,000

<ul><li>At 7:42 am, the SGX Nifty was down 0.34%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in negative territory on Wednesday, on the back of subdued cues from the global peers. At 7:42 am, the SGX Nifty was down 0.34%, indicating a tepid start for Nifty50. US stocks slipped on Tuesday, with the S&amp;P 500 and the Dow Jones industrial average trading lower after closing at record highs on Monday, as traders baulk at spiking virus cases. The Dow Jones Industrial Average closed 167 points lower, and the S&amp;P 500 was down 0.48%. These are the stocks to watch out for during the trading session today: Lakshmi Vilas Bank On Tuesday evening, the government placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at ₹25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. Meanwhile, the RBI has also placed in the public domain a draft scheme of amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank. The shares of Lakshmi Vilas Bank ended 0.32% lower on Tuesday. DLF DLF gets listed on Dow Jones Sustainability Indices (DJSI), becoming the only Indian realty firm to be included in the DJSI index. The index recognised DLF based on its record for its governance, social and environmental initiatives. DJSI Emerging Markets Index in 2020 recognised 100 companies across industries in emerging markets like China, Brazil, Hong Kong, Mexico, Chile, Thailand, Taiwan, Colombia, amongst others besides India. The shares of DLF ended 1.4% higher on Tuesday. Tata Steel HDFC Mutual Funds reduced its stake in Tata Steel from 5.02% to 2.96% on November 12. The shares of Tata Steel ended 6% higher on Tuesday. Oil and Natural Gas Corp ONGC has signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. The shares of ONGC ended 2% lower on Tuesday. IIFL Securities The board of IIFL Securities will meet on November 20 to consider the share buyback proposal. The shares of IIFL Securities ended 20% higher on Tuesday. PTC India Aditya Birla Sun Life Mutual Fund reduced its stake in PTC India from 5.46% to 3.42% on November 12. The shares of PTC India ended 1.3% higher on Tuesday. IRCTC The Indian Railways operator IRCTC cancelled running of two Tejas Express trains due to low occupancy levels owing to Covid-19. The shares of IRCTC India ended 1.04% lower on Tuesday. Just Dial In a BSE filing, Just Dial informed investors that the company is pursuing all legal remedies in the Court to counter the allegations filed by Indiamart Intermesh pertaining to the launch of its proposed B2B project – JD Mart. The company also said that JD Mart platform’s development is running as per the planned schedule, and the product demo is already available on the company’s platforms, which will be launched in due course of time after seeking legal recourse, as may be necessary. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/lakshmi-vilas-bank-under-moratorium-rbi-caps-maximum-deposit-or-withdrawal-at-25000/articleshow/79267116.cms" data-type="tilCustomLink">Lakshmi Vilas Bank under moratorium— RBI caps maximum deposit or withdrawal at ₹25,000</a> <a href="https://www.businessinsider.in/business/startups/news/urban-ladder-was-the-fourth-startup-from-vani-kola-kalaari-capital-portfolio-to-be-sold-to-reliance/articleshow/79264455.cms" data-type="tilCustomLink">Urban Ladder was the fourth startup from Kalaari Capital’s portfolio to be sold to Reliance – the investment firm’s MD is of the belief ‘selling does not mean sellout’</a>

Top stocks to watch — Lakshmi Vilas Bank, ​Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

New Delhi, Jun 15 () The board of Lakshmi Vilas Bank (LVB) on Monday considered a proposal for capital infusion by Clix Capital. The bank routinely evaluates capital raising options and proposals which are in its best interest, it said in a regulatory filing. "The bank has received preliminary, non-binding letter of intent (LoI) from Clix Capital Services and Clix Finance India dated June 12, 2020, which the Board of Directors of the Bank has considered for further processing in their meeting held today," it said. Under the non-binding LoI, the proposed transaction is subject to completion of due diligence, which the bank and the intending parties will be carrying out and will be subject to regulatory and other customary approvals, it added. "In the event, the discussions between the contracting parties in relation to the proposed transactions are successful and definitive agreements are executed, we will make appropriate disclosures as required under the provisions of applicable law," it said further. The bank has been placed under the prompt corrective action (PCA) framework of RBI since August last year for low capital buffer and higher NPAs coupled with mounting losses. Following LVB's failure to get RBI nod for merger with IndiaBulls Housing Finance and being placed under PCA framework, there were rumours of the bank being shuttered. Clix Finance India is a non-banking financial company and offers various products in commercial and retail lending. LVB stock closed 4.94 per cent higher at Rs 15.30 on BSE. KPM ANU ANU

Clix Capital eyes stake in Lakshmi Vilas Bank

<ul><li>At 7:45 am, the SGX Nifty was up 0.03%, indicating a flat start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note today, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.03%, indicating a flat start for Nifty50. On Wednesday, the US stocks dipped from its record levels on disappointing economic data and soaring COVID-19 cases. The Dow Jones Industrial Average closed 174 points lower, and the S&amp;P 500 was down 0.16%. These are the stocks to watch out for during the trading session today: <keyword id="135860" type="COMPANY" weightage="20" keywordseo="Lakshmi-Vilas-Bank">Lakshmi Vilas Bank</keyword> The Reserve Bank of India said the amalgamation of Lakshmi Vilas Bank with DBS Bank India would come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The National Stock Exchange (NSE) will suspend trading on the shares of the Lakshmi Vilas Bank (LVB) with effect from today. The shares of Lakshmi Vilas Bank ended 5% higher on Wednesday. <keyword id="2607288" type="PERSON" weightage="20" keywordseo="Future-Consumer">Future Consumer</keyword> The recently appointed CEO of Future Consumer, Rajnikant Sabnavis, has resigned from his position. The shares of Future Consumer ended 5% higher on Wednesday. <keyword id="2053975" type="COMPANY" weightage="20" keywordseo="Laurus-Labs">Laurus Labs</keyword> Drug firm Laurus Labs announced that it had signed definitive agreements with the Eight Roads Ventures, VenturEast Proactive Fund, and VenturEast Life Fund III to acquire 72.55% stake in biotech firm Richcore Lifesciences for a cash consideration of ₹246.67 crore. The shares of Laurus Labs ended 1.64% lower on Wednesday. <keyword id="51925" type="CITY" weightage="20" keywordseo="Union-Bank">Union Bank</keyword> The board of the state-owned Union Bank of India board has approved raising upto ₹6,800 crore during this fiscal to fund business growth. The shares of Union Bank of India ended 3% higher on Wednesday. Fine Organic Industries Fine Organic Industries Limited informed the exchanges that it had commenced operations at its newly opened company facility in Maharashtra. The shares of Fine Organic Industries ended 2.38% lower on Wednesday. <keyword id="556475" type="COMPANY" weightage="20" keywordseo="Vakrangee">Vakrangee</keyword> Vakrangee has withdrawn the amalgamation of its subsidiaries Vakrangee Logistics Private and Vakrangee Finserve with Vakrangee Limited. The company said its amalgamation scheme is presently pending with NCLT to seek appropriate directions. Still, there have been substantial changes in the business environment in the last few months, and the management of the company is of the opinion that, considering the present scenario, it would not be prudent to proceed with proposed amalgamation. The shares of Vakrangee ended 2% higher on Wednesday. <keyword id="134114" type="CITY" weightage="20" keywordseo="Kesoram-Industries">Kesoram Industries</keyword> BK Birla Group flagship Kesoram Industries said its consortium of lenders had given their in-principle approval to a resolution plan to raise funds and restructure debts. The total debt of the company currently stands at over ₹2,000 crore. The shares of Kesoram Industries ended 6% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/us-stocks-dip-from-record-levels-on-disappointing-economic-data-and-soaring-covid-19-cases/articleshow/79418413.cms" data-type="tilCustomLink">US stocks dip from record levels on disappointing economic data and soaring COVID-19 cases</a> <a href="https://www.businessinsider.in/sports/news/diego-maradona-one-of-the-greatest-stars-in-soccer-history-has-died-at-the-age-of-60/articleshow/79414628.cms" data-type="tilCustomLink">Diego Maradona, one of the greatest stars in soccer history, has died at the age of 60</a>

Top stocks to watch — Lakshmi Vilas Bank, Future Consumer, Laurus Labs, Union Bank, Vakrangee, Kesoram Industries, and others

New Delhi, Mar 19 () Private sector lender Lakshmi Vilas Bank (LVB) on Thursday said its Independent Director Sanjay Kumar Khemani has resigned from the board with immediate effect. Khemani resigned from the directorship of the bank on March 19, 2020, the bank said in a regulatory filing. In the resignation letter enclosed with the filing, Khemani -- who joined the bank board on January 23, 2020 -- said there were three board meetings since he assumed charge and the committees of the board were reconstituted, naming him in three of the committees. Khemani was named in the Customer Service Committee, CSR Committee and IT Strategy Committee. "Considering the role of these committees, I feel that I do not posses domain expertise required for effectively contributing for furtherance of the objective of these committees and therefore I feel that I would not be able to contribute much to the bank through these committees," Khemani said in his resignation letter to the bank. In view of the above, " I hereby tender my resignation from the office of the director of the Lakshmi Vilas Bank with immediate effect and request that a notice of my resignation be given to the Registrar of Companies and the board of directors be informed at their next board meeting." The bank's Non-Executive Non-Independent Director Anuradha Pradeep had resigned in November without giving any reason, while in October, Independent Director Supriya Prakash Sen had put in her papers, citing personal reasons. Earlier, the Reserve Bank had initiated prompt corrective action (PCA) against the south India-based lender. The central bank had also rejected the merger proposal of Indiabulls Housing Finance and Lakshmi Vilas Bank in October. Lakshmi Vilas Bank was placed under the RBI's PCA framework due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years. The merger proposal had received all necessary approvals but the nod from the banking regulator was pending since May. Indiabulls Group has also come under the scanner of probe agencies after the arrest of former Yes Bank co-founder and CEO Rana Kapoor. Post the Yes Bank debacle, LVB had issued a statement reassuring markets and customers about its financial health. "The bank would like to take this opportunity to assure our customers that their deposits are safe in our bank. We also request our customers to ignore any market rumours that are based on unfounded news reports," it said on March 12. KPM ABM

LVB Independent Director Sanjay Khemani resigns

Mumbai, Feb 24 () Private sector lender Lakshmi Vilas Bank is hopeful of returning to profitability and come out of the prompt corrective action (PCA) framework by the end of the next financial year. The mid-sized lender, whose planned merger with the Indiabulls Group was scuttled by the regulator last October, has been under the Reserve Bank's PCA framework since September 2019 curbing regular lending and other operations. In the December 2019 quarter, the Chennai-based bank has seen some improvement in asset quality with no new non-performing assets (NPAs) being added and contained at Rs 257 crore, down from Rs 534 crore in the previous quarter. Also, better recoveries helped it narrow net losses to Rs 334 crore in the December 2019 quarter from Rs 357 crore a year ago and from Rs 456 crore in the previous quarter. Another key improvement was in lower operating losses that came down to Rs 19.85 crore, from Rs 25.10 crore in the December 2018 quarter and from Rs 40.37 crore in the September 2019 quarter. Similarly, the cost-to-income ratio also improved to 110.38, from 112.56 in the year-ago quarter and from 124.07 in the previous quarter. Also, its provision coverage ratio is sniffing at the RBI-mandated 70 levels at 68.70 in the December 2019 quarter, compared with 63.08 a year ago and 62.28 in the previous quarter. But, the asset quality and core capital base remain still critically low. While the capital adequacy ratio under Basel-III stood at a low 3.46 during the reporting quarter, more than halving from 7.57 a year ago, gross NPA ratio as percentage of total advances improved to 21.25 per cent from 23.27 per cent, and net NPAs to 9.81 per cent from 10.47 per cent. "I expect some clear green shoots to be visible from Q2 of FY21 and full profitability in the fourth quarter of the new fiscal which will enable (the bank) to come out of the PCA framework as well," Interim Chief Executive Officer S Sundar told over phone. Also, the rising recoveries will help shore up the core capital apart from other capital-raising means that include a merger or part sale of equity. "The board has mandated me to talk to investors so that we raise Rs 1,500-2,000 crore by any means, which includes stake sale or an outright merger. We need this much capital to come out of the PCA," Sundar said. Already, all-round improvement is seen across all key operational parameters and the bank hopes to take this further as it moves on, which of course is contingent on how the economy fares in the new year, he added. "The two key focus areas are recovery, which we expect in the March quarter to net over Rs 500 crore. Another key is to add at least Rs 200 crore to our gold loan book which is around Rs 2,600 crore now and Rs 100 crore each to the SME (small and medium enterprises) book on a monthly basis going forward," said Sundar. So far this year, recoveries stood at Rs 267 crore in the third quarter of FY20, up from Rs 137 crore in Q2 and Rs 113 crore in Q1, taking the total recoveries to Rs 517 crore and Sundar hopes to collect as much as this in the current quarter if not more. "Another area we are looking at is the one-time settlements (OTM). This quarter will see some Rs 400 crore of recoveries through OTS. And the mandate for the next fiscal is around Rs 2,000 crore," said Sundar, who is also the bank's chief financial officer. On the tussle with the Religare group, which has taken it to the Delhi High Court after it encashed over Rs 800 crore of deposits, he said the bank has made a interim provision of Rs 200 crore for this, taking its overall provisions to Rs 2,500 crore. Through the current financial year, the bank has raised Rs 738 crore in fresh capital including from the 4.95 per cent stake sale to Indiabulls in the run-up to the failed merger. Since the PCA kicked in, the bank's total business shrunk to 41,100 crore from Rs 54,910 crore in the third quarter of 2018-19. Likewise, its low-cost Casa book slipped from 25.88 per cent to 22.85 per cent and advances declined to Rs 17,535 crore from Rs 24,123 crore. BEN HRS

Lakshmi Vilas Bank expects to return to profitability by end-FY21

The share price of <keyword id="6363556" type="DOMAIN" weightage="20" keywordseo="indiabulls">Indiabulls</keyword> Housing Finance Ltd depreciated by 14% to 204.40 in the early trade on Thursday, after Reserve Bank of India rejected Indiabulls' proposal to merge with the capital starved private sector lender Lakhsmi Vilas Bank (LVB). The shares of <keyword id="818048" type="DOMAIN" weightage="20" keywordseo="Lakshmi-Vilas-Bank-Ltd">Lakshmi Vilas Bank Ltd</keyword>. were trading 4.82% low at 25.65. Both LVB as well as IBHF informed the bourses late Wednesday evening about the RBI decision, but did not specify the reasons for the same, which however, for many was in the offing given the regulator's stated opposition to corporates and realty-focused entities entering the banking arena. The merger proposal had already received all other approvals, including those from the fair trade watchdog. Since the central bank has been opposed to the idea of bank promoters hailing from real estate and corporate sector for long, the regulatory call on the merger had assumed greater interest. The application for merger was made in May after both the parties agreed to the merger in April. Entering the banking space would have given IBHF access to cheap deposits and saved it from crisis like being faced by the shadow banks now, while the promise of capital infusion would have helped revive the fortunes of the Tamil Nadu based lender which was last month put under the prompt corrective action framework which puts a lot of curbs on its operations. "The Reserve Bank has informed us that the application for voluntary amalgamation of IBHF and Indiabulls Commercial Credit with LVB cannot be approved," LVB informed the exchanges. In a similar exchange filing, IBHF said it has also been informed by the RBI about the same and added that the decision ends the uncertainty of the past five months. To push the prospects of getting the Reserve Bank nod, the IBHF promoters led by Samir Gehlaut and Gagan Banga, had also offered to pare their <keyword id="525588" type="DOMAIN" weightage="20" keywordseo="holdings">holdings</keyword> to the levels of regulatory comfort from day zero of the merger and get it down further eventually and even also eschew Indiabulls branding from the new banking entity. In the run-up to the merger, Indiabulls had sold 15 percent stake in <keyword id="51993" type="DOMAIN" weightage="20" keywordseo="Indiabulls-Real-Estate">Indiabulls Real Estate</keyword> to the Bengaluru-based Embassy Group. IBREL also sold various properties to US-based private equity firm Blackstone as part of its exit plan. They had also promised additional capital infusion along with the merger, to take care of LVB's fragile buffer situation due to the higher bad loans. The low capital buffers had last month prompted the monetary authority to put LVB under restrictions called the prompt corrective action framework, which puts curbs on large size lending and branch expansion. For FY19, LVB's net NPAs stood at 7.49 percent, <keyword id="120758" type="ORGANIZATION" weightage="20" keywordseo="capital-adequacy-ratio">capital adequacy ratio</keyword> was at 7.72 percent and its return on assets was a negative 2.32 percent. It had reported a net loss of Rs 894.10 crore in FY19. The decision to put it under PCA had led to speculation that the RBI has decided to deny the permission, but governor Shaktikanta Das had last week clarified nothing should be read into the move. During the past five months, a complaint was also filed against LVB with the Economic Offences Wing of the Delhi Police for cheating and misappropriation of funds. Separately, IBHF is facing a public interest litigation in the Delhi High Court which had alleged that monies loaned by Indiabulls to various companies were routed back to its promoters through other entities. The group had called such allegations baseless which were leveled with the intent of stopping the merger process. Recently, the South-based lender's managing director and chief executive Parthasarthy Mukherjee had also quit midway through the merger process, leading to question marks over the merger. However, despite these setbacks, both the parties had sounded confident of pulling through. In its statement, IBHF said its board will be meeting next Monday to consider a share buyback. "The company will focus on its growth of the core business of housing finance," IBHF said, adding it will resume with its policy of paying quarterly dividends from here on. It has a networth of approx Rs 19,000 crore, healthy liquidity and cash balances of over Rs 18,000 crore as on date, Indiabulls added. The IBHF counter had closed the session with gains of 2.34 percent at Rs 240.30 on the BSE, while the LVB scrip shed 4.93 percent to close at Rs 27 while the benchmark rallied close to 650 points. (With PTI)

Lakshmi Vilas Bank shares plummet as RBI stalls Indiabulls Housing merger

<ul><li>The 30-share BSE index was trading 18 points higher, and the broader NSE Nifty was trading flat on Wednesday at 10:02 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian indices were trading flat on Wednesday after hitting a record high on Tuesday led by the losses in heavyweights HDFC, HUL, TCS and RIL. The 30-share BSE index was trading 18 points higher, and the broader NSE Nifty was trading flat on Wednesday at 10:02 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr></tbody></table>*as of November 18, 10:00 am These are the top stocks in news today. Lakshmi Vilas Bank hits 20% lower circuit The shares of Lakshmi Vilas Bank were locked in a 20% lower circuit a day after the government placed the bank under a one-month moratorium and capped withdrawals at ₹25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. Meanwhile, the RBI has also placed in the public domain a draft scheme of amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank. DHFL locked in 5% upper circuit The shares of cash strapped Dewan Housing Finance Corp (DHFL) were locked in a 5% upper circuit <a href="https://www.livemint.com/companies/news/adani-surprise-sparks-new-auction-for-dhfl-11605571146578.html">after news reports surfaced</a> that lenders are likely to call for fresh bids as the Adani Group unexpectedly offered a higher price for the company’s assets. Wipro sheds 1% The shares of IT giant Wipro shed nearly a percent after its shareholders have approved its up to ₹9,500 crore share buyback plan. The board of directors had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at ₹400 per share, aggregating to an amount of up to ₹9,500 crore. Tata Motors shares soar ahead of Tata vs Mistry case hearing The shares of Tata Motors soared over 4% ahead of Tata vs Mistry case hearing scheduled today. Tata Motors also recorded a strong festive boost during the Diwali season. DLF opens 3% higher The shares of DLF soared 3% after the company was recognised to be listed on Dow Jones Sustainability Indices (DJSI), becoming the only Indian realty firm to be included in the DJSI index. The index recognised DLF based on its record for its governance, social and environmental initiatives. IIFL Securities up over 6% The shares of IIFL Securities gained over 6% after the company announced that its board would meet on November 20 to consider the share buyback proposal. Mahanagar Gas gains 3% The shares of Mahanagar Gas were up 3% after brokerages reiterated ‘buy’ rating for its stocks. CLSA has raised its target to ₹1,310 per share from ₹1,299 earlier. Nirmal Bang has set the target price at ₹1,072. SEE ALSO:<a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms" data-type="tilCustomLink"> IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-updates-and-news-india-in-talks-with-moderna-for-94-5-effected-covid-19-vaccine/articleshow/79255463.cms" data-type="tilCustomLink">COVID-19 vaccine latest updates: Sinovac’s CoronaVac safe, early trial results show that vaccine triggers immune response</a>

Top stock movers — Lakshmi Vilas Bank, Tata Motors, DHFL, Wipro, Mahanagar Gas, IIFL Securities, and others

<ul><li>The 30-share BSE index was trading 78 points higher, while the Nifty50 rose 0.21%.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex and Nifty opened on a cautious note tracking mixed cues from global markets ahead of the US Federal Reserve's policy outcome. The 30-share BSE index was trading 78 points higher, while the Nifty50 rose 0.21%. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment Limited </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr></tbody></table>*as of September 16, 9:50 am Mahindra and Mahindra shares gain 5% on September 16 The shares of automobile manufacturer Mahindra and Mahindra opened 5% higher after <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/mahindras-ssangyong-close-to-signing-binding-agreement-with-us-firm-korean-media-reports/articleshow/78120204.cms?from=mdr">Korean news reports</a> surfaced claiming that M&amp;M subsidiary SsangYong Motor was close to signing a binding investment agreement with US-based HAAH Automotive Holdings. SpiceJet shares shed 2% post earnings The shares of India’s largest cargo operator lost nearly 2% on Wednesday a day after the company reported a net loss of ₹593.4 crore for the first quarter ended June 30. The overall revenue during the quarter declined 83% YoY to ₹4,83.24 crore compared to the same period last year. Indiabulls Housing trade 3% higher The shares of Indiabulls Housing gained 3% after the company said Brickwork Ratings has assigned a short-term rating of A1 plus to the company, signifying the adequate degree of safety and low credit risk. The rating agency has reaffirmed the long-term rating at AA-plus, suggesting a high degree of safety and very low credit risk, the company said in its regulatory filing. Lakshmi Vilas Bank locked in 10% upper circuit The shares of Lakshmi Vilas Bank were locked in a 10% upper circuit after the bank said the Clix Group have substantially completed the due diligence on a proposed amalgamation of the financial services company with the bank. In June, Lakshmi Vilas bank had signed a preliminary, non-binding letter of intent (LoI) with Clix Capital Services Private Limited and Clix Finance India Private Limited, collectively the Clix Group, in relation to the proposed amalgamation of Clix Group with the Bank. NMDC trades 4% higher The share price of National Mineral Development Corporation (NMDC) gained over 4% a day after the Karnataka Cabinet cleared the NMDC’s application to start mining operations at Donimalai following the intervention of Union Mines Minister, Prahlad Joshi. Sterlite Technologies gains over 5% The shares of Sterlite Technologies was trading over 5% higher after it partnered with telecom giant Airtel to build an optical fibre network across 10 telecom circles. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/indias-covid-19-number-crosses-5-million-mark-and-last-one-million-cases-in-just-11-days/articleshow/78139916.cms" data-type="tilCustomLink">India’s COVID-19 tally crosses 5 million mark — with an addition of one million cases in just 11 days</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-future-enterprises-bharti-airtel-sterlite-technologies-spicejet-indigo-mm-and-more/articleshow/78138733.cms" data-type="tilCustomLink">Top stocks to watch— Infosys, Future Enterprises, Bharti Airtel, Sterlite Technologies, SpiceJet, IndiGo, M&amp;M and more</a>

Top stock movers — Mahindra and Mahindra, SpiceJet, NMDC, Lakshmi Vilas Bank, Indiabulls Housing, Sterlite Tech and more

<ul><li>In the Asian market, the SGX Nifty was trading 0.33% higher at 7:47 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian stock market is likely to open in green. In the Asian market, the SGX Nifty was trading 0.33% higher at 7:47 am, indicating a higher start for Nifty50. The US equities also <a href="https://www.businessinsider.in/stock-market/news/us-stocks-rise-as-investors-weigh-latest-comments-on-stimulus-progress/articleshow/78564147.cms">ended higher on Thursday as investors digested </a>the latest updates to a possible near-term stimulus measure. The Dow Jones Industrial Average gained over 122.05 points, whereas the S&amp;P 500 was up over 0.80%. These are the stocks to watch out for during the trading session on October 9: Future Retail <a href="https://www.livemint.com/news/india/amazon-approaches-singapore-arbitration-centre-over-future-reliance-deal-11602155326101.html">Amazon has approached the Singapore International Arbitration Centre (SIAC)</a> over its dispute with the promoter of Future Retail, Future Coupons. The e-commerce giant Amazon has stepped in and said that Kishore Biyani’s led Future Group violated a contract with it by entering into the sale agreement with Reliance Retail. Last year, Amazon acquired a 49% stake in Future Coupons, a Future group entity. The shares of Future Retail ended 5% lower yesterday. Vedanta Vedanta’s reverse book building exercise ends today. The company has tendered over 73.76 crore shares in the buyback offer made by promoters to delist the company. A total of 134 crore shares held by public shareholders need to be tendered for the delisting to succeed. The shares of Vedanta ended 4% lower yesterday. Lakshmi Vilas Bank (LVB) Private lender, Lakshmi Vilas Bank (LVB) said it had received an indicative non-binding offer from Clix Group. This came after the bank was in talks for amalgamation with Clix Group, that comprises Clix Capital Services Private Ltd, Clix Finance India Private Ltd and Clix Housing Finance Private Ltd. The shares of Lakshmi Vilas Bank (LVB) ended 7% higher yesterday. Solar Industries Solar Industries said it has bagged an order worth ₹447 crore from the Telangana government for the supply of bulk explosives and initiating systems. The shares of Solar Industries ended 2% lower yesterday. GOCL Corporation The manufacturer of explosives, detonators and special devices for defence and space applications, GOCL Corporation, said its subsidiary received an order worth ₹187 crore from the Telangana government for the supply of bulk explosives. The shares of GOCL Corporation ended 2% lower yesterday. Adani Enterprises Adani Enterprises in a stock exchange filing said it has raised ₹125 crore through allotment of non-convertible debentures (NCDs) on a private placement basis. The shares of Adani Enterprises ended 3% lower yesterday. SBI, HDFC Bank, ICICI Bank, and others Watch out for financial stocks in trade today as the Monetary Policy Committee announced their rate decision and outlook on growth later today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/microsoft-told-employees-it-plans-to-release-a-browser-based-app-for-the-xbox-game-pass-streaming-service-next-year-that-will-get-around-apple-app-store-rules-we-absolutely-will-end-up-on-ios/articleshow/78565167.cms" data-type="tilCustomLink">Microsoft told employees it plans to release a browser-based app for the Xbox Game Pass streaming service next year that will get around Apple App Store rules: 'We absolutely will end up on iOS'</a> <a href="https://www.businessinsider.in/politics/world/news/bidens-campaign-pulled-down-more-than-12-million-during-the-90-minute-vice-presidential-debate-between-kamala-harris-and-mike-pence/articleshow/78565032.cms" data-type="tilCustomLink">Biden's campaign pulled down more than $12 million during the 90-minute vice-presidential debate between Kamala Harris and Mike Pence</a>

Top stocks to watch — SBI, HDFC Bank, ICICI Bank, Future Retail, Adani Enterprises, Vedanta, Lakshmi Vilas Bank, Solar Industries, and others

New Delhi, Feb 14 () Private sector lender Lakshmi Vilas Bank, which is under the RBI's prompt corrective action (PCA), on Friday said its net loss has narrowed to Rs 334.48 crore during the third quarter ended December 2019. The bank had a net loss of Rs 373.49 crore in the corresponding quarter of 2018-19. Sequentially also, the losses were down from Rs 357.16 crore in the second quarter ended September 2019. Its total income fell sharply to Rs 585.77 crore during the December 2019 quarter as compared with Rs 762.48 crore a year ago, as the lender has also been directed to restrict lending to corporates. "The Reserve Bank of lndia (RBI) has initiated prompt corrective action vide letter dated September 27, 2019. Certain actions have been prescribed, such as bringing in additional capital, restricting further lending to corporates, reducing NPAs and improving the provision coverage ratio to 70 per cent. "The bank is obliged to carry out the actions prescribed by the RBI," Lakshmi Vilas Bank said in a regulatory filing. The bank has come under the PCA due to high level of bad loans, lack of sufficient capital to manage risks, and negative return on assets for two consecutive years. The return on assets (RoAs) in the third quarter of 2019-20 worsened to (-) Rs 4.40 as compared with (-) Rs 3.90 in year-ago quarter. On the asset quality front, the bank suffered a beating with the gross non-performing assets (NPAs) surging to 23.27 per cent of the gross advances at the end of December 2019 from 13.95 per cent in the corresponding period of 2018-19. In absolute terms, gross NPAs rose to Rs 4,081.06 crore from Rs 3,364.27 crore. Net NPAs were 9.81 per cent (Rs 1,463.93 crore) as against 7.64 per cent (Rs 1,716.22 crore). The bank said it made provisioning for NPAs, including of diminution value of all restructured accounts, of Rs 290.04 crore for the December 2019 quarter, compared with Rs 313.76 crore a year ago. The overall provisions and contingencies were of Rs 314.62 crore as against Rs 413 crore. With regard to the ongoing case in the Delhi High Court against Religare group companies for extending loans up to Rs 794 crore in 2017-18, Lakshmi Vilas Bank said that "the bank holds a contingent provision of Rs 200 crore as on December 31, 2019, on this score". "Further to this, the bank has submitted replies to the clarifications sought by Sebi. EOW (Economic Offence Wing), Delhi, has registered FIR against Directors of Board, LVB, RHC Holding and Directors on the Board of RHC Holding and the investigation is in progress. "The bank has sent a detailed letter to EOW explaining its stand on the issue and assured to extend full co-operation in the investigation," it said. The provision coverage ratio as on December 31, 2019, stood at 68.70 per cent. Shares of LVB on Friday closed 4.77 per cent down at Rs 18.95 on the BSE. KPM HRS

You Searched For "Lakshmi Vilas Bank" and got 12 results

Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen

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Lakshmi Vilas Bank under moratorium— RBI caps maximum deposit or withdrawal at ₹25,000

IANS

Top stocks to watch — Lakshmi Vilas Bank, Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

Navdeep Yadav

Clix Capital eyes stake in Lakshmi Vilas Bank

PTI

Top stocks to watch — Lakshmi Vilas Bank, Future Consumer, Laurus Labs, Union Bank, Vakrangee, Kesoram Industries, and others

Navdeep Yadav

LVB Independent Director Sanjay Khemani resigns

PTI

Lakshmi Vilas Bank expects to return to profitability by end-FY21

PTI

Lakshmi Vilas Bank shares plummet as RBI stalls Indiabulls Housing merger

BI India Bureau

Top stock movers — Lakshmi Vilas Bank, Tata Motors, DHFL, Wipro, Mahanagar Gas, IIFL Securities, and others

Navdeep Yadav

Top stock movers — Mahindra and Mahindra, SpiceJet, NMDC, Lakshmi Vilas Bank, Indiabulls Housing, Sterlite Tech and more

Navdeep Yadav

Top stocks to watch — SBI, HDFC Bank, ICICI Bank, Future Retail, Adani Enterprises, Vedanta, Lakshmi Vilas Bank, Solar Industries, and others

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Lakshmi Vilas Bank net loss narrows to Rs 334 cr in Dec quarter

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You Searched For "Lakshmi Vilas Bank" and got 12 results

Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen

Prabhjote Gill

Lakshmi Vilas Bank under moratorium— RBI caps maximum deposit or withdrawal at ₹25,000

IANS

Top stocks to watch — Lakshmi Vilas Bank, ​Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

Navdeep Yadav

Clix Capital eyes stake in Lakshmi Vilas Bank

PTI

Top stocks to watch — Lakshmi Vilas Bank, Future Consumer, Laurus Labs, Union Bank, Vakrangee, Kesoram Industries, and others

Navdeep Yadav

LVB Independent Director Sanjay Khemani resigns

PTI

Lakshmi Vilas Bank expects to return to profitability by end-FY21

PTI

Lakshmi Vilas Bank shares plummet as RBI stalls Indiabulls Housing merger

BI India Bureau

Top stock movers — Lakshmi Vilas Bank, Tata Motors, DHFL, Wipro, Mahanagar Gas, IIFL Securities, and others

Navdeep Yadav

Top stock movers — Mahindra and Mahindra, SpiceJet, NMDC, Lakshmi Vilas Bank, Indiabulls Housing, Sterlite Tech and more

Navdeep Yadav

Top stocks to watch — SBI, HDFC Bank, ICICI Bank, Future Retail, Adani Enterprises, Vedanta, Lakshmi Vilas Bank, Solar Industries, and others

Navdeep Yadav

Lakshmi Vilas Bank net loss narrows to Rs 334 cr in Dec quarter

PTI

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Top stocks to watch — Lakshmi Vilas Bank, Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others