Jan 01, 2014, 12.38 PM IST | Source:

Lakshmi Vilas Bank up 6% as board to meet for rights issue

The board of directors of Lakshmi Vilas Bank will consider issue of shares on rights basis on Friday.

Moneycontrol Bureau

Shares of  Lakshmi Vilas Bank rallied as much as 5.6 percent intraday on Wednesday as the board will consider rights issue on Friday.

"A meeting of the board of directors of the bank will be held on January 03, to consider and if thought fit, to approve the proposal for further issue of equity shares on rights basis, to existing shareholders of the bank," the bank said in its filing to the exchange.

At 12:27 hours IST, the stock was trading at Rs 73.10, up 4.06 percent amid large volumes on the BSE. Market capitalisation of the company currently stands at Rs 714.63 crore.

Set email alert for


video of the day

Budget 2015-16: Revive capex through savings on cheap crude says Kotak Sec

Explore Moneycontrol

Copyright © Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of is prohibited.