Yes Bank shares continue to tumble, drop nearly 10%   

0
14
yes bank
File Photo

New Delhi:  Shares of Yes Bank continued to fall for the second session Friday, falling sharply by nearly 10 per cent to hit its one-year low.  Despite positive opening, the stock failed to hold on to the gains and later cracked 9.22 per cent to Rs 184.45 – its 52-week low – on BSE. On NSE, shares of the company dropped 9.64 per cent to hit a one-year low of Rs 183.65.

Shares of Yes Bank witnessed massive selling pressure Thursday also tumbling by over 9 per cent. The stock was the worst hit among the blue-chips on both the key indices during morning trade.

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.