The Lakshmi Vilas Bank is currently trading at its lower circuit limit of Rs. 12.40, down by 3.10 points or 20.00% from its previous closing of Rs. 15.50 on the BSE.
The scrip opened at Rs. 12.40 and has touched a high and low of Rs. 12.40 and Rs. 12.40 respectively. So far 1943297 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 25.18 on 30-Jun-2020 and a 52 week low of Rs. 10.45 on 31-Mar-2020.
Last one week high and low of the scrip stood at Rs. 16.10 and Rs. 12.40 respectively. The current market cap of the company is Rs. 417.53 crore.
The promoters holding in the company stood at 6.80%, while Institutions and Non-Institutions held 15.64% and 77.56% respectively.
The government has placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. According to RBI, in the absence of a credible revival plan, with a view to protect depositors' interest and in the interest of financial and banking stability, there was no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949.
Accordingly, after considering the Reserve Bank's request, the Central Government has imposed moratorium for thirty days effective from November 17, 2020. As per the moratorium order, Lakshmi Vilas Bank will not, without RBI's permission, make, in the aggregate, payment to a depositor of a sum exceeding twenty-five thousand rupees lying to his credit, in any savings, current or any other deposit account, by whatever name called.
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.
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| Indusind Bank | 981.70 |
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