India's Dhanlaxmi Bank falls 9% after independent director resigns

Dhanlaxmi Bank

18/09/2023 05:19

** Shares of private lender Dhanlaxmi Bank  DNBK.NS  fall as
much as 9.2% to 26.55 rupees, biggest intraday pct drop since
Dec. 22
    ** Sridhar Kalyanasundaram quit as independent director at
DNBK, citing differences with board on matters including a
rights issue and the bank's capital position
    ** Kalyanasundaram was appointed as independent director of
DNBK in December 2022
    ** Stock last down 4.6% as of by 9.41 a.m. IST, vs a 0.5%
fall in Nifty Private Bank index  .NIFPVTBNK ; DNBK had rallied
nearly 20% on Friday
    ** More than 18 mln shares change hands on Monday vs 30-day
avg of 5.3 mln shares

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))