Indiabulls Housing falls 26% in 2 days after RBI rejects merger with Lakshmi Vilas Bank
Updated : October 11, 2019 12:00 PM IST
Shares of Indiabulls Housing Finance fell extended losses to fall over 9 percent on Friday after the Reserve Bank of India (RBI) rejected their proposed merger with Lakshmi Vilas Bank.
The stock has tumbled over 26 percent since the announcement yesterday.
Lakshmi Vilas Bank was also stuck in its 5 percent lower circuit for the second day in a row at Rs 24.40 per share on BSE.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more