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Yes Bank jumps after new appointments, clarification on rumours

Capital Market 

Yes Bank rose 5.61% to Rs 93.15 at 12:06 IST on BSE after the bank said that its financial position is sound and stable and its liquidity and operating performance continue to be robust.

Meanwhile, the S&P BSE Sensex was down 570.28 points, or 1.44% to 38,943.11.

On the BSE, 86.35 lakh shares were traded in the counter so far compared with average daily volumes of 61.97 lakh shares in the past two weeks. The stock hit a high of Rs 94.35 in intraday today. The stock hit a low of Rs 85.70 so far during the day, which is also a 52-week low. The stock hit a 52-week high of Rs 404 on 20 August 2018.

Yes Bank stated that over the past few weeks, there has been a lot of unfounded speculation about the bank's board and management stability, asset portfolio, future growth prospects among other things. The bank clarified that it strongly refutes such speculations, which it suspects is a deliberate and malicious attempt to create instability in the institution by undermining investor and client confidence. The bank said that it has apprised the authorities of these developments.

Meanwhile, Yes Bank announced the appointment of Rajeev Uberoi as senior group president - governance and controls and Anurag Adlakha as senior group president & head - financial management & strategy.

Further, the bank said that it will consider Q1 June 2019 results on Wednesday, 17 July 2019.

Yes Bank reported a net loss of Rs 1506.64 crore in Q4 March 2019 over a net profit of Rs 1179.44 crore in Q4 March 2018. Total income rose by 17.1% to Rs 8388.23 crore during the period under review.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 08 2019. 12:07 IST