Lakshmi Vilas Bank board to consider rights share issue; shares rise 5%

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Lakshmi Vilas Bank share price rose nearly 5 percent in the early trade on October 13 after the company said its board will consider issue of securities on a rights basis.

"A meeting of board will be held on October 15, 2020 to consider and approve, the issue of securities of the bank to existing shareholders of the bank on a rights basis," company said in the release.

The share touched its 52-week high Rs 25.18 and 52-week low Rs 10.45 on 30 June, 2020 and 31 March, 2020, respectively.

Currently, it is trading 25.14 percent below its 52-week high and 80.38 percent above its 52-week low.

The share price added 58 percent in the last six months.

At 09:18 hrs, Lakshmi Vilas Bank was quoting at Rs 18.85, up Rs 0.30, or 1.62 percent on the BSE.