Indiabulls Housing Fin, Lakshmi Vilas Bank plummet up to 23 pc
Shares of Indiabulls Housing Finance and Lakshmi Vilas Bank plummeted up to 23 per cent on Thursday after the Reserve Bank of India rejected their merger proposal.
Indiabulls Housing Finance Ltd's (IBHFL) stock tumbled 18.85 per cent to close at Rs 195 on the BSE. In early trade, the scrip touched its 52-week low of Rs 187.50, shedding almost 22 per cent.
On similar lines, the scrip fell 19.27 per cent settle at Rs 193.60 on the National Stock Exchange (NSE). It hit its 52-week low of Rs 185.30, down nearly 23 per cent.
The company lost about Rs 1,936.9 crore in market capitalisation at Rs 8,337.69 crore.
Shares of Lakshmi Vilas Bank (LVB) sank 5 per cent to hit lower price band as well as one-year low of Rs 25.65 on the BSE and closed on the same.
The scrip traded at its lower price band and 52-week low of Rs 25.65 and settled on the same, cracking 4.82 per cent, on the NSE.
The Reserve Bank of India on Wednesday rejected non-banking lender IBHFL's proposal to merge with the capital .