April 8, 2019 / 4:25 AM / 2 months ago

BUZZ-India's Lakshmi Vilas Bank rises on approving merger with Indiabulls Housing

** Shares of private sector lender Lakshmi Vilas Bank Ltd rise as much as 4.9 pct to 97.4 rupees, their highest since September 2018

** The bank, on Friday, approved a merger deal with Indiabulls Housing Finance Ltd

** India’s central bank said on Sunday it has not yet approved the merger proposal of Lakshmi Vilas and Indiabulls Housing Finance

** About 2.2 mln shares change hands compared with the 30-day average of around 3.4 mln shares

** As of Friday’s close, stock is up 6.48 pct so far this year

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