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Lakshmi Vilas Bank share hits upper circuit of 5% after Clix Capital offers to buy stake

Lakshmi Vilas Bank stock price closed 5% higher at Rs 15.30 against previous close of Rs 14.58 on BSE

twitter-logoBusinessToday.In | July 10, 2020 | Updated 13:41 IST
Lakshmi Vilas Bank share hits upper circuit of 5% after Clix Capital offers to buy stake
The stock price of lender has risen 4.87% in a week and 14.44% during one month.

Share price of Lakshmi Vilas Bank hit upper circuit of 5% today after the lender said it has received a non binding letter of intent (LoI) from Clix Capital Services Private Limited & Clix Finance India Private Limited. Lakshmi Vilas Bank stock price closed 5% higher at Rs 15.30 against previous close of Rs 14.58 on BSE.

The stock price of lender has risen 4.87% in a week and 14.44% during one month.

However, the stock has declined 11.3% in the year 2020 and 76.66% in one year's. Market capitalisation of the lender rose to Rs 515 crore. Total 0.68 lakh shares changed hands amounting to turnover of Rs 10.45 lakh.

There were only buyers and no sellers in the stock. Lakshmi Vilas Bank share price stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

"The Bank routinely evaluates capital raising options and proposals which are in its   best interest. The Bank has received preliminary, non-binding letter of intent (Loi) from M/s. Clix Capital Services Private Limited & Clix Finance India Private Limited dated June 12, 2020, which the Board of Directors of the Bank has considered for further processing in their meeting held today ( 151h June 2020). Under the non-binding LOI,  the proposed transaction is subject to completion of due diligence, which the Bank and the intending parties will be  carrying out and will  be  subject to  regulatory and  other customary approvals," the lender said in a statement.

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