Lakshmi Vilas Bank surges 41% in a week on report US fund house eyes stake

Shares of Lakshmi Vilas Bank were locked in 5 per cent upper circuit at Rs 20.90 on the BSE on Wednesday after reports emerged saying that a US fund house is eyeing a big stake in the cash-strapped bank.

The private sector lender's stock has been frozen upper circuit for the fourth straight day. In the past week, the stock has rallied 41 per cent against 1 per cent rise in the S&P BSE Sensex.

The trading volumes on the counter nearly doubled with a combined 726,846 shares changing hands on the NSE and BSE till 11:21 am.