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Shares of private sector lender Lakshmi Vilas Bank (LVB) Ltd rose as much as 4.9 per cent to Rs 97.4 , their highest since September 2018
The bank, on Friday, approved a merger deal with Indiabulls Housing Finance Ltd.
However, on Sunday, the Reserve Bank of India (RBI) stated that it has not yet approved the merger proposal of Lakshmi Vilas and Indiabulls Housing Finance.
Read: Don’t allow LVB to merge with IHFL, AIBEA tells RBI
About 2.2 million shares changed hands compared to the 30-day average of around 3.4 million shares. As of Friday's close, the stock is up 6.48 per cent so far this year.
The stock closed Monday's session at Rs 97.35, up Rs 4.60 (+4.96%) on the BSE.
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