Lakshmi Vilas Bank corrects on profit booking

Lakshmi Vilas Bank fell 2.01% to Rs 151.25 at 11:35 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 84.10 points, or 0.26% to 32,590.82.

On the BSE, 74,000 shares were traded in the counter so far, compared with average daily volumes of 1.66 lakh shares in the past one quarter. The stock had hit a high of Rs 154.85 and a low of Rs 149.45 so far during the day. The stock hit a record high of Rs 209.80 on 6 July 2017. The stock hit a 52-week low of Rs 125.10 on 22 November 2016.

The stock had underperformed the market over the past one month till 23 October 2017, falling 0.19% compared with 1.83% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.89% as against Sensex's 0.86% rise. The scrip had also underperformed the market in past one year, rising 1.25% as against Sensex's 15.36% rise.

The small-cap company has equity capital of Rs 191.81 crore. Face value per share is Rs 10.

Shares of Lakshmi Vilas Bank rose 10.41% in five trading sessions to settle at Rs 154.35 yesterday, 23 October 2017, from its close of Rs 139.80 on 13 October 2017.

Net profit of Lakshmi Vilas Bank fell 83.8% to Rs 10.50 crore on 8.7% rise in operating income to Rs 902.76 crore in Q2 September 2017 over Q2 September 2016.

Lakshmi Vilas Bank is a full-fledged commercial bank. As on 30 September 2017, the bank had 511 branches, 7 extension counters, 983 ATMs in 16 states and 1 union territory, the bank offers various bouquets of products and services.

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