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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.
Indiabulls Housing falls 26% in 2 days after RBI rejects merger with Lakshmi Vilas Bank
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