Lakshmi Vilas Bank, Yes Bank, Indiabulls Housing Among Key Stocks in Focus Today

Indian stock markets were trading in the negative territory on Monday with heavy selling seen in banking shares.

At 11:27 am, the S&P BSE Sensex was down 312.65 points, or 0.8%, to 38,509.92, while the Nifty 50 index fell 86.80 points, or 0.75%, to 11,425.60. Lakshmi Vilas Bank, Yes Bank, Indiabulls Housing Finance, Gruh Finance, Bandhan Bank and Reliance Nippon were among the key stocks in news today.

Lakshmi Vilas Bank: Lakshmi Vilas Bank Ltd shares were locked in a 5% lower circuit after the Reserve Bank of India initiated prompt corrective action for the bank.

Yes Bank: Yes Bank Ltd shares cracked 13% despite the lender saying it received approval from the Reserve Bank of India to raise capital.

Indiabulls Housing Finance: Shares of Indiabulls Group companies tumbled after the Delhi High Court admitted petitions to probe Indiabulls Housing Finance, which cracked 27%.

Manappuram Finance: Manappuram Finance Ltd shares fell 1.7% after the NBFC approved issue of non-convertible debentures (NCDs) worth Rs 215 crore on a private placement basis

Gruh Finance, Bandhan Bank: Gruh Finance Ltd shares rose 2.2%, while Bandhan Bank jumped 2% after the NCLT Kolkata approved the scheme of amalgamation of Gruh Finance into and with Bandhan Bank under Sections 230 to 232 of the Companies Act, 2013.

Reliance Nippon: Reliance Nippon Life Asset Management Ltd shares gained over 3% after Nippon Life Insurance Company of Japan completed the acquisition of 75% stake in the company.

Punjab and Sind Bank: Punjab and Sind Bank Ltd shares were down 1.8% even as the lender received Rs 787 crore from the government in connection with the capital infusion.

Kajaria Ceramics: Kajaria Ceramics Ltd advanced 3.6% as its wholly-owned subsidiary Kajaria Tiles Private Ltd started the commercial production of tiles on 29 September.