YES Bank dips 5% to trade in double digits for the first time in five years

According to a report by IIFL, the bank has debt exposure of Rs 7,590 crore to cash-strapped companies including Rs 3,700 crore to DHFL as of March 2019 and Rs 550 crore in Jet Airways.

YES Bank shares tumbled to a double-digit value of Rs 98.75 per share, down 4.6 per cent intra-day, for the first time in almost half a decade as investors’ sentiment eroded due to the bank’s exposure to debt-laden companies.

At 10:30 am, the stock was trading at Rs 106.35 apiece, up 3 per cent, having pared losses registered during the morning deals. In comparison, the S&P BSE Sensex was trading 0.2 per cent higher at 39,191 levels. 

The stock took the beating after global agencies like UBS and Moody’s investors service downgraded the bank’s ratings. It hit nearly five-year