Laxmi Bank hits positive circuit in the first hour; Can the highly anticipated merger be the reason?
Mon, Sep 3, 2018 2:13 PM on Latest, Stock Market,
The stock of Laxmi Bank Limited (LBL) has already hit the positive circuit in the first hour of the day. The price of the stock has increased by 23 points or 9.96%.
The reason behind the upsurge of the price has been speculated to be its discussion about merger with Everest Bank Limited. Laxmi Bank has been in a discussion with Everest Bank Limited regarding the merger and the merger was supposed to be finalized after Ashadh 2075.
On the other hand, the price of Everest Bank Limited (EBL) has fallen by 6 points to reach Rs 652. If the rumors are followed, the swap ratio will stand at 40%-55%.
The sudden surge in the price of Laxmi Bank’s share has surely raised a few eyebrows of the investors. It will be soon known if the speculations about its merge with Everest Bank is really the reson behind it.
