Business Standard

Yes Bank shares remain under pressure, drop 10 pc


Press Trust of India New Delhi
Shares of Yes Bank fell for the second session Friday, tumbling nearly 10 per cent and wiping out Rs 9,203 crore from its market valuation in two days.
The stock crashed 9.72 per cent to close at Rs 183.45 on BSE. Intra-day, it tumbled 18.23 per cent to Rs 166.15 -- its 52-week low.
At NSE, shares of the company dropped 9.42 per cent to close at Rs 184.10.
The stock was the worst hit among the blue-chips on both the key indices during day.
In terms of equity volume, 93 lakh shares of the company were traded on BSE and over 14 crore shares changed hands at NSE during the day.
In two consecutive trading sessions, shares of the company have tumbled nearly 18 per cent, with the market valuation plunging Rs 9,203.3 crore to Rs 42,363.70 crore on BSE.
Shares of the bank rose by nearly 2 per cent Wednesday, a day after the company's board decided to seek at least a three-month extension from RBI for its MD and CEO Rana Kapoor beyond January 31, 2019.
The RBI had last week curtailed the three-year term that the board had sought for Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.
Meanwhile, Yes Bank Thursday said it has not indulged in any window dressing of its corporate accounts to conceal non-performing assets (NPAs).

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First Published: Sep 28 2018 | 5:45 PM IST

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