Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Yes Bank Shares Bounce Back, Close Nearly 4% Higher

In terms of the traded volume, 259.92 lakh shares were traded on the BSE and over 39 crore units on the NSE during the day.

PTI

Updated:September 20, 2019, 4:39 PM IST
facebookTwitterskypewhatsapp
Yes Bank Shares Bounce Back, Close Nearly 4% Higher
Image for representation. (Photo: Reuters)

New Delhi: Yes Bank shares on Friday rebounded and closed nearly 4 per cent higher after one of the promoter entities of the company sold a part of its stake.

The scrip, however, trimmed most of its early gains and closed at Rs 55.45, up 2.40 per cent on the BSE. During the day, it zoomed 10.61 per cent to Rs 59.90.

On the NSE, it climbed 3.69 per cent to close at Rs 56.10.

In terms of the traded volume, 259.92 lakh shares were traded on the BSE and over 39 crore units on the NSE during the day.

Morgan Credits Private Limited (MCPL), a promoter group firm of Yes Bank, on Thursday said it has sold 2.3 per cent shareholding in the private sector lender.

"The proceeds will be solely utilised to prepay substantial portion of outstanding non-convertible debentures (NCDs) of MCPL subscribed by various schemes of Reliance Nippon Life Asset Management Company (RNAM)," the company said in a regulatory filing.

Morgan Credits in April 2018 had placed rated, zero coupon, NCDs amounting Rs 1,160 crore with RNAM (the only borrowing of MCPL), it said.

Meanwhile, in a filing to the BSE on Friday morning, the company said as has been publicly disclosed, one of the promoter entities of Yes Bank sold a part of its stake yesterday (Thursday).

This sale was effected purely to deleverage the debt of this entity.

"The board of directors of Yes Bank would like to state that the financial position of the bank is sound and stable, its operating performance continues to be robust and its growth plans stay firmly on track," it added.

Shares of Yes Bank on Thursday plummeted nearly 16 per cent after a Moody's report said the Altico default may be credit negative for banks given their significant exposure to the real estate sector.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 643.55 -16.19
Yes Bank 51.80 0.78
Bajaj Finance 4,034.15 -2.50
Reliance 1,414.15 -0.16
Indiabulls Hsg 218.00 -5.71
Company Price Change %Gain
Infosys 643.30 -16.21
Yes Bank 51.80 0.78
Indiabulls Hsg 218.20 -5.75
HDFC 2,115.95 0.98
Reliance 1,414.25 -0.07
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,810.75 3.15
ICICI Bank 451.15 3.05
BPCL 534.10 2.65
Titan Company 1,329.45 2.22
Cipla 453.90 2.20
Company Price Change %Gain
ICICI Bank 451.15 3.06
Coal India 208.80 1.38
Power Grid Corp 204.95 1.18
Bajaj Auto 3,123.30 1.15
Hero Motocorp 2,673.40 1.04
Top Losers
Company Price Change %Gain
Infosys 643.55 -16.19
Tata Motors 131.75 -3.73
Bajaj Finserv 8,008.85 -3.11
HCL Tech 1,064.45 -2.83
Bajaj Finance 4,034.15 -2.50
Company Price Change %Gain
Infosys 643.30 -16.21
Tata Motors 131.90 -3.51
HCL Tech 1,064.45 -2.87
Bajaj Finance 4,031.95 -2.56
Bharti Airtel 374.20 -2.36

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results