Yes Bank tumbles 11.5% in two sessions

Yes Bank fell 4.77% to Rs 67.85 at 12:53 IST on BSE, extending yesterday's 7.11% fall triggered by a disclosure regarding irregularities and unauthorised transactions at CG Power and Industrial Solution.

CG Power and Industrial Solutions announced before trading hours yesterday, that an internal probe of the company had uncovered several irregularities in the financial statements of the company. As on 30 June 2019, Yes Bank held 12.79% stake in CG Power.

Shares of Yes bank are down 11.54% in two trading sessions from its close of Rs 76.70 on Monday, 19 August. The scrip has underperformed the market in past one year, falling 81.91% as against Sensex's 2.48% fall.

Yes Bank recently raised Rs 1,930 crore via qualified institutions placement (QIP), which was open between 8 and 14 August 2019. The bank allotted 23.1 crore equity shares of face value of Rs 2 each to eligible qualified institutional buyers at Rs 83.55 each. The stock is currently 18.79% below the QIP issue price.

Yes Bank's net profit fell 91% to Rs 113.76 crore on a 9.9% rise in the total income to Rs 9088.80 crore in Q1 June 2019 over Q1 June 2018.

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