Lakshmi Vilas Bank jumps on rights issue plan - The New Indian Express

Lakshmi Vilas Bank jumps on rights issue plan

Published: 28th March 2014 10:19 AM

Last Updated: 28th March 2014 10:19 AM

Lakshmi Vilas Bank, a private sector banking institution,rallied on Fridayafter the bank said it has filed a draft letter of offer in connection with the proposed rights issue of equity shares of Rs 10 each by the bank, aggregating up to Rs 5.05 billion for cash.

Shares of the bank are trading at Rs 68.90, up Rs 2.7, or 4.08% at the Bombay Stock Exchange (BSE) on Friday at 9:51 a.m.The scrip has touched an intra-day high of Rs 69.50 and low of Rs 68.30. The total volume of shares traded at the BSE is 34,195.In the earlier session, the shares rose 1.38%, or Rs 0.90, at Rs 66.20.Currently, the stock is trading down 26.15% from its 52-week high of Rs 93.30 and above 19.83% over the 52-week low of Rs 57.50.

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