YES Bank cracks nearly 6% ahead of board meeting outcome

Shares of YES Bank fell as much as 5.6 per cent to Rs 181.55 on the BSE in intra-day trade on Wednesday as the investors awaited the outcome of the bank's board meeting in regards to the appointment of the new managing director (MD) and chief executive officer (CEO).

At 2:22 pm, the stock of the private sector lender was trading at Rs 187.50 down Rs 4.80 or 2.5 per cent. Over 5.4 crores of shares were traded on the BSE and National Stock Exchange (NSE) so far.

The stock has taken a heavy beating since September 18, 2018, when the Reserve Bank of India (RBI) trimmed MD & CEO Rana Kapoor's tenure till January 31, 2019.

The stock price has declined over 40 per cent since September 18, 2018. In comparison, the S&P BSE Sensex has dipped nearly 4 per cent during the same period.