- Tag results for Yes Bank
Yes Bank emerges top gainer as Infosys, Vedanta, Reliance Industries and TCS steal the show.
The former IAS officer has been on the board of the bank since July 2013 as an independent director and has contributed to almost all the sub-committees of the board over the past five years.
Earlier this week, the bank informed stock exchanges that it has shortlisted the names of potential candidates to succeed Kapoor, who is to demit office by month-end.
The bank sold 1,23,37,323 equity shares having nominal value of Rs 10 each, constituting 2.13 per cent of the paid-up share capital of FHL.
The Chairman post fell vacant after the resignation of Ashok Chawla in November following issues related to probity.
Yes Bank is caught in an uncanny situation.
Ever since the RBI curtailed Kapoor's tenure at Yes Bank, its stock, which used to be a top pick of many brokerages, has taken a massive beating.
Shares of Yes Bank had slumped nearly 12 per cent Wednesday also after Moody's Investors Service downgraded the company's ratings to non-investment grade.
Wednesday’s fall wiped off Rs 4,909.72 crore of its market capitalisation to Rs 37,384.28 crore as the stock hit the 52-week low.
The outlook, it said, has been changed to negative from stable.
Families of Yes Bank promoters Rana Kapoor and Madhu Kapur are close to reaching a settlement and talks are at an advanced stage, sources said on Tuesday.
The entities are understood to be linked to the close family members of Rana Kapoor, the chief executive and one of the promoters of the bank.
The former bureaucrat wanted the bank to focus on finding a successor for Kapoor rather than indulging in issues such as shake up in the board composition and the likes, sources told PTI.
India's fifth largest private-sector bank lender has been having a bad time in the share market ever since the country's central bank has put restrictions on the financial sector.
Besides, the private sector lender is expected to overhaul its board after receiving nod from its promoters, sources said.