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Yes Bank Shares Tank Nearly 7%, M-cap Drops by Rs 3,936 Crore

In terms of the equity volume, 34.77 lakh shares of the company were traded on the BSE and over 3 crore shares changed hands on the NSE during the day.

PTI

Updated:October 17, 2018, 8:15 PM IST
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Yes Bank Shares Tank Nearly 7%, M-cap Drops by Rs 3,936 Crore
File photo. (Reuters)
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New Delhi: Shares of Yes Bank faced huge selling pressure on Wednesday, plunging nearly 7 per cent to wipe out Rs 3,936.49 crore from its market valuation. The scrip dropped 6.85 per cent to settle at Rs 231.75 on the BSE. Intra-day, it dived 8 per cent to Rs 228.85.

The stock was the worst hit among the 30 blue-chips. On the NSE, shares of the company fell by 6.83 per cent to close the trade at Rs 231.90.

The company's market valuation slumped Rs 3,936.49 crore to Rs 53,517.51 crore on the BSE.

In terms of the equity volume, 34.77 lakh shares of the company were traded on the BSE and over 3 crore shares changed hands on the NSE during the day.

Reserve Bank on Wednesday refused to grant more time to Yes Bank's long serving CEO and MD Rana Kapoor and asked the private sector lender to appoint his successor latest by February 1, 2019.

"The Reserve Bank of India has reaffirmed that a successor to Shri Rana Kapoor, MD & CEO, YES Bank should be appointed by February 1, 2019," the lender said in a stock exchange filing post market hours on Wednesday.

The RBI had earlier 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.
| Edited by: Padmaja Venkataraman
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