Lakshmi Vilas Bank locked at 5% upper circuit; stock soars 45% in 6 days

According to a report, the boards of Lakshmi Vilas Bank and Indiabulls Housing Finance are set to meet this week to consider a proposal to merge the firms

Lakshmi Vilas Bank shares were locked at 5 per cent upper circuit, at Rs 92.75, for the second straight day, in intra-day trade on the BSE after reports of a merger with Indiabulls Housing Finance.

In the past six trading days, the stock has soared 45 per cent, as compared to 1 per cent rise in the S&P BSE Sensex. Till 09:53 am, a combined 1.65 million shares had changed hands and there were pending buy orders for 1.68 million shares on the BSE and NSE.

According to an Economic Times report, the boards of Lakshmi Vilas Bank and Indiabulls