Lakshmi Vilas Bank up 20% after business update

The stock locked in upper circuit of 20% at Rs 85.25, bouncing back 25% from its early morning low of Rs 67.95 on the BSE.

Shares of Lakshmi Vilas Bank (LVB) is locked in upper circuit of 20 per cent at Rs 85.25 on the BSE on Monday after the bank said its asset quality slippages during the current year, have considerably moderated and the Bank has seen impressive growth in low cost CASA balances.

“The Bank has been consolidating its business significantly during the current financial year. Overall, the Bank's funding has become a lot more granular in nature, LVB said on recent volatility in the Bank's stock in the exchanges.

“The Bank's planned capital raising process, including induction of strategic investors,