Yes Bank shares halt two-day slide, soar nearly 10%

Shares of Yes Bank soared nearly 10 per cent on Monday when the lender said it is fully geared up for the succession plan for the post of its MD and CEO and it will finalise two external experts for search committee by October 7.

The stock zoomed 9.68 per cent to end at Rs 201.20 on the BSE. During the day, it jumped 14.30 per cent to Rs 209.70.

On NSE, shares of the company climbed 8.82 per cent to close at Rs 199.85.

The stock was the biggest gainer among the blue chips on both the key indices.

RBI last month curtailed the three-year term that Yes Bank's board had sought for its MD and CEO Rana Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.

"The bank is fully geared for the MD & CEO's succession. Pursuant to the Board of Directors meeting dated September 25, 2018, the two external experts of the Search & Selection Committee will be finalised by October 7, 2018," Yes Bank said in a statement.

The stock was falling for the past two days, plunging by 18 per cent.