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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

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

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>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, 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 0.18%, indicating a positive 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 green on Monday, led by positive cues from the Asian markets. At 7:45 am, the SGX Nifty was up 0.18%, indicating a positive start for Nifty50. On Thursday, the US equity markets were closed on the occasion of Thanksgiving. Asian markets are trading in the green this morning — the Shanghai Composite Index was up 0.19%, and the Tokyo Stock Price Index (TOPIX) was up 0.29%. These are the stocks to watch out for during the trading session today: Mahindra &amp; Mahindra Mahindra &amp; Mahindra’s (<keyword id="46869" type="CITY" weightage="20" keywordseo="MM">M&amp;M</keyword>) wholly-owned subsidiary, Mahindra Holdings (MHL) has decided to sell its 100% stake of Mahindra First Choice Services (MFCS) and Auto Digitech (ADPL) to TVS Automobile Solutions (TASL). M&amp;M said after the closure of the sale, MHL’s shareholding in MFCS and ADPL would come down to zero, and MFCS and ADPL would cease to be the subsidiaries of MHL and consequently of the company. The shares of Mahindra &amp; Mahindra ended 1.26% higher on Thursday. <keyword id="90722" type="CITY" weightage="20" keywordseo="Gillette">Gillette</keyword> The National Anti-Profiteering Authority (NAA) has imposed a fine of over ₹58 crore on Gillette India for not passing on benefits of GST rate cut to the consumers. The authorities have asked to deposit 50% of the profiteered amount in the Central Consumer Welfare Fund and the rest 50% in the Consumer Welfare Fund of the states and UT. The shares of Gillette ended 0.23% higher on Thursday. <keyword id="4379311" type="PERSON" weightage="20" keywordseo="AU-Small-Finance-Bank">AU Small Finance Bank</keyword> AU Small Finance Bank has made a strategic investment of ₹7.70 crores in National Payments Corporation of India (NPCI), wherein 61,320 equity shares at a value of ₹1,256 per share are allocated to the Bank constituting 0.44% shareholding of NPCI. The shares of AU Small Finance Bank ended 1.07% higher on Thursday. <keyword id="45609" type="CITY" weightage="20" keywordseo="JSW-Steel">JSW Steel</keyword> JSW Steel is <a href="https://www.business-standard.com/article/news-cm/jsw-steel-to-hike-stake-in-arm-for-rs-35-cr-120112500340_1.html">looking</a> to hike its stake in its subsidiary JSW Vallabh Tinplate for ₹35 crore. The shares of JSW Steel ended 7% higher on Thursday. Tube Investments of India and <keyword id="4243479" type="PERSON" weightage="20" keywordseo="CG-Power">CG Power</keyword> Tube Investments of India acquired a controlling interest in CG Power Industrial Solutions via allotment of equity shares &amp; warrants. The shares of Tube Investments of India ended 4% lower on Thursday, and CG Power was down nearly 2%. Lakshmi Vilas Bank A group of promoters of the ailing Lakshmi Vilas Bank challenged the merger with DBS Bank in the Bombay High Court. However, the court rejected the merger stay plea; the petitions have been placed for hearing on December 14 when the respondents (Reserve Bank of India, LVB and DBS Bank India) shall file their affidavits in reply. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-top-electric-cars-price-from-delhi-mumbai-chennai-bengaluru-kolkata/articleshow/79429631.cms" data-type="tilCustomLink">From Tata Nexon EV and MG ZS EV to Hyundai Kona Electric — here’s how much top electric cars cost in India</a> <a href="https://www.businessinsider.in/science/news/astrazeneca-will-likely-re-test-its-covid-19-vaccine-ceo-says-after-admitting-an-error-in-the-first-trial-that-may-have-skewed-results/articleshow/79434619.cms" data-type="tilCustomLink">AstraZeneca will likely retest its COVID-19 vaccine, CEO says after admitting an error in the first trial that may have skewed results</a>

Top stocks to watch — M&M, Gillette, AU Small Finance Bank, JSW Steel, CG Power, and others

<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>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

<ul><li>The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 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 stock market indices, Sensex and Nifty turned choppy on Wednesday after trading in green territory for a brief while. Financial stocks led the fall amid mixed cues from global markets as investors remained cautious after the first US presidential debate. The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 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;">Dr. Reddy's Laboratories </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;">IndusInd 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;">Cipla </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;">Bharat Petroleum </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;">United Phosphorus Ltd </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;">ICICI 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;">Sun Pharmaceutical Industries </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;">Coal 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;">Divi's Laboratories </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></tbody></table>*as of September 30, 10:00 am These are the top stocks in news today. VA Tech Wabag up over 6% The shares of VA Tech Wabag gained 6% in an otherwise volatile market after its board approved allotment of 75 lakh equity shares at a price of ₹160 apiece aggregating ₹120 crore by way of the preferential issue. The list of proposed investors includes Rekha Rakesh Jhunjhunwala, Basera Home Finance, Sushma Anand Jain, and Anand Jaikumar Jain. Reliance Industries (RIL) open 1% higher The shares of Mukesh Ambani owned RIL opened 1% higher after its Retail venture, Reliance Retail <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">sealed its third deal</a> this month. The American growth equity firm, General Atlantic has invested ₹3,675 crore into Reliance Retail for a 0.84% stake in the company. Future Enterprises down 3% The shares of Future Enterprises lost nearly 3% value after the Kishore Biyani-led company reported a fresh default on interest payment of non-convertible debentures (NCDs). Future Enterprises said it had defaulted on interest payment of ₹16.11 crore for a gross principal amount of ₹332 crore. This also dragged other Future Group stock such as — Future Retail and Future Lifestyle Fashions down 3%, among others. Housing Development Finance Corp (HDFC) trades higher after amalgamation nod The shares of Housing Development Finance Corp (HDFC) was trading nearly a percent higher after National Company Law Tribunal (NCLT), Mumbai sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO. Indiabulls Housing Finance surges 4% The shares of the leading private sector mortgage lender Indiabulls Housing Finance gained 4% after it raised another ₹630 crore by selling a part of its stake in UK-based bank Oak North to Toscafund Asset Management. Punjab National Bank and Lakshmi Vilas Bank trade lower The shares of Punjab National Bank was trading 2% lower after <a href="https://www.business-standard.com/article/finance/rbi-sounds-out-pnb-on-acquisition-of-beleaguered-lakshmi-vilas-bank-120092901633_1.html">reports surfaced that RBI has asked Punjab National Bank to take over</a> Lakshmi Vilas Bank (LVB) in case the beleaguered lender’s proposed transaction with Clix Capital does not materialise. Lakshmi Vilas Bank was also trading 5% lower during the early trading hours. PVR soars 3% The shares of cinema giant PVR Limited soared 3% ahead of the board meeting on October 5 to consider the proposal of raising funds via non-convertible debentures. 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" data-type="tilCustomLink" style="">Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore</a> <a href="https://www.businessinsider.in/science/space/news/after-the-moon-mars-is-getting-laser-reflecting-mirror-to-help-future-landings-on-the-red-planet/articleshow/78385935.cms" data-type="tilCustomLink">After the Moon, Mars is getting laser-reflecting mirror to help future landings on the Red Planet</a>

You Searched For "lvb merger dbs bank" and got 9 results

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

Prabhjote Gill

LVB Independent Director Sanjay Khemani resigns

PTI

Lakshmi Vilas Bank shares plummet as RBI stalls Indiabulls Housing merger

BI India Bureau

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

Navdeep Yadav

Clix Capital eyes stake in Lakshmi Vilas Bank

PTI

Top stocks to watch — M&M, Gillette, AU Small Finance Bank, JSW Steel, CG Power, and others

Navdeep Yadav

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

Navdeep Yadav

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

Navdeep Yadav

Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

Navdeep Yadav

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You Searched For "lvb merger dbs bank" and got 9 results

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

Prabhjote Gill

LVB Independent Director Sanjay Khemani resigns

PTI

Lakshmi Vilas Bank shares plummet as RBI stalls Indiabulls Housing merger

BI India Bureau

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

Navdeep Yadav

Clix Capital eyes stake in Lakshmi Vilas Bank

PTI

Top stocks to watch — M&M, Gillette, AU Small Finance Bank, JSW Steel, CG Power, and others

Navdeep Yadav

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

Navdeep Yadav

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

Navdeep Yadav

Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

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