YES Bank makes sharp U-turn; slips 17% from intraday high to hit 52-wk low

The board will decide the future course of action after the RBI curtailed the term of its MD and CEO Rana Kapoor and asked the bank to look for a replacement by January 2019.

Making a sharp u-turn, shares of YES Bank slipped 7 per cent in the afternoon trade on Tuesday ahead of the board meeting to be held later in the day to decide the future course of action after the Reserve Bank of India (RBI) curtailed the term of its managing director (MD) and Chief Executive Officer (CEO) Rana Kapoor and asked the bank to look for a replacement by January 2019.

In the early trade, the stock rose 6 per cent. At 01:30 pm, the stock was trading 5.50 per cent lower at Rs 213.80 apiece on BSE. It slipped