Lakshmi Vilas Bank shares bounce back, jump nearly 5%

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Shares of Lakshmi Vilas Bank bounced back on Wednesday after falling for almost a week, rising by nearly 5 per cent following the government approval for merger of the crisis-ridden bank with DBS Bank India Ltd (DBIL). In early trade on Wednesday, the stock had tanked 4.79 per cent to Rs 6.95, its lower circuit limit as well as one-year low, on the BSE. However, it recovered all its lost ground in the afternoon trade, gaining 4.79 per cent to close at Rs 7.65 -- its upper circuit limit.On the NSE, the scrip rose 4.79 per cent to close at Rs 7.65. Earlier in the day, it had fallen 4.79 per cent to Rs 6.95.

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