Lakshmi Vilas, J&K Bank trade weak for second straight day; fall over 10%

J&K Bank slipped 13 per cent to Rs 42.30, plunging 29 per cent in three trading days on the BSE.

Shares of Lakshmi Vilas Bank and Jammu & Kashmir (J&K) Bank were under pressure for the second straight day on Wednesday, falling by up to 13 per cent on the BSE, on the back of negative news flow.

J&K Bank slipped 13 per cent to Rs 42.30, plunging 29 per cent in three trading days, after the Anti-Corruption Bureau (ACB) alleged Parvez Ahmed, now-removed chairman-cum-managing director, of indulging in unlawful activities.

Soon after Ahmed's removal from the post of chairman-cum-managing director, RK Chhibber was appointed as the interim chairman-cum-managing director with effect from June 8, 2019. 

The Jammu and Kashmir