Indiabulls Housing Finance share price falls 38% on concerns over merger with Lakshmi Vilas Bank

The share price of Indiabulls Housing Finance Ltd (IBHFL) crashed nearly 38% intraday to hit a fresh 52-week low today after Reserve Bank of India put private sector lender Lakshmi Vilas Bank under its prompt corrective action (PCA) plan. The development places the prospects of their prolonged merger into jeopardy. Indiabulls Housing Finance stock opened today with a loss of 6.79% to Rs 363, also its day’s high. Later, the stock crashed 37.8% and touched an intraday low as well as fresh 52-week low of Rs 240.10, against the last…

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Share market update: Nifty Financial Services index up; Indiabulls Housing Finance jumps 5%

NEW DELHI: The Nifty Financial Services index was up with most of its components trading with gains in Tuesday’s afternoon session. Shares of Indiabulls Housing Finance (up 5.69 per cent), Shriram Transport Finance Company (up 4.20 per cent), Cholamandalam Investment & Finance Company (up 3.75 per cent) and Indiabulls Ventures (up 3.51 per cent) were the top gainers in the index. ICICI Bank (up 2.38 per cent), Mahindra & Mahindra Financial Services (up 1.58 per cent), State Bank of India (up 1.37 per cent) and REC (up 1.08 per cent)…

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