From Lakshmi Vilas Bank to Laurus Labs: Stocks in News Today

The 30-share BSE index on Wednesday plunged 694.92 points, ending at 43,828.10. On the other hand, the broader NSE Nifty also went down 196.75 points, reaching 12,858.40. Amid mix cues from global markets, some companies performed well on Wednesday. Here are stocks which investors should watch out for before investing today.

Lakshmi Vilas Bank: The cabinet yesterday approved the merger of Lakshmi Vilas Bank (LVB) with DBS Bank India. DBS India will be infusing fresh capital of Rs 2,500 crore into LVB. Moreover, the moratorium imposed on the bank will be removed. The shares of LVB will be delisted on November 27, while trading in the bank’s shares will be suspended from Thursday. Now, all branches of LVB will be operating as branches of DBS Bank India.

Vakrangee: In view of the substantial changes in business environment over the last few months, the board of the company has withdrawn the scheme of amalgamating Vakrangee Logistics and Vakrangee Finserve. The National Company Law Tribunal is yet to decide on the scheme.

Astral Poly Technik: The firm’s board has given its nod for making a foray into the business of manufacturing and trading of plastic water storage tanks. Besides, it has decided to add new capacity with a total investment not exceeding Rs 75 crore, reported Bloomberg Quint.

Siemens: Bloomberg Quint reported that Seimens Q4 year-end September report shows that its revenue went down by 8.9 per cent to Rs 3,546.8 crore. The company’s net profit remained largely flat, witnessing a plunge of 1.1 per cent. The net profit stood at Rs 330.2 crore. EBITDA moved up by 5.5 per cent, while margins expanded 180 basis points year-on-year, from 11.1 per cent to 12.9 per cent.

Kesoram Industries: The company’s resolution plan formulated under the Reserve Bank of India’s guidelines got in-principle approval from consortium of lenders.

Future Consumer: The chief executive officer of the company has resigned.

Laurus Labs: The firm is expected to acquire 72.55 per cent stake in a biotech company called Richcore Lifesciences. For this, it will pay Rs 246.67 crore.

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