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Yes Bank gains 5% on T S Vijyan appointment

Press Trust of India  |  New Delhi 

Shares of Monday gained 5 per cent after the announced appointment of T S as an additional with immediate effect.

The company's shares went up by 4.92 per cent to settle at Rs 178 on BSE. During the day, the stock soared 5.83 per cent to Rs 179.55 apiece.

On the NSE, it followed the similar uptrend as the stocks surged 4.92 per cent to end at Rs 178.15. It had touched an intra-day high of Rs 179.5, up 5.71 per cent.

In terms of equity volume, more than 11 crore shares changed hands on the stock exchanges.

"We would like to inform that the board of directors of the on December 3, 2018, have approved the appointment of T S as an (independent) of the bank with immediate effect and his appointment as independent of 5 years...," said in a regulatory filing.

was of the (Irdai). He has also held senior positions in various capacities at the of and became its in 2006.

further said the appointment of Vijayan will be subject to approval of shareholders at the next general meeting of the bank.

The private sector lender is grappling with governance as well as non-performing asset issues and has seen resignations of three independent directors, including Ashok Chawla, in the recent past.

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

First Published: Mon, December 03 2018. 21:00 IST