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Indiabulls hits over five-year low, rattled by merger concerns and probe

Tuesday, October 1, 2019, 7:49 PM

Indiabulls Housing Finance Ltd's shares extended their slide and hit a more than five-year low, as remarks from the mortgage lender following a tide of negative news-failed to assuage investors. This comes as the company stares at a potential fall-through in its merger with Lakshmi Vilas Bank Ltd, analysts said. Indian-police have also started probing Lakshmi Vilas Bank's directors for alleged misappropriation of funds.