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The Unusual Spike In Lakshmi Vilas Bank Shares
Starting Feb. 26, the stock soared 44 percent on the NSE in six trading days till March 6.
12 Mar 2019, 09:06 AM IST
Shares of Lakshmi Vilas Bank Ltd. spiked unusually in the last few sessions even as the Tamil Nadu-based private lender grapples with bad loans and a capital crunch. Strangely, the surge came after a rating downgrade.On Feb. 21, Brickworks Ratings wrote to the lender informing that it had downgraded the bank’s unsecured redeemable non-convertible debentures of Rs 50.50 crore to BBB- from BBB+. The rating agency cited losses, rising b...
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