Yes Bank shares continue to fall; plunge nearly 8 per cent

The bank on Friday said eight investors led by Erwin Singh Braich have evinced interest to pump USD 2 billion into the lender.

Published: 03rd December 2019 05:09 PM  |   Last Updated: 03rd December 2019 05:35 PM   |  A+A-

Yes Bank branch

Yes Bank (File Photo | Reuters)

By PTI

NEW DELHI: Shares of Yes Bank came under selling pressure even after rising in the early trade on Tuesday and tumbled nearly 8 per cent at closing.

The scrip of the company closed the day at Rs 59.50, down 7.10 per cent on the BSE.

In the morning trade, the stock had gained 2 per cent to the day's high of Rs 65.35. During the day, it touched a low of Rs 59, registering a fall of 7.88 per cent.

At the NSE, it plunged 7.57 per cent to close at Rs 59.20. The scrip was the worst hit among the frontline companies on both Sensex and Nifty.

READ| Yes Bank invokes 65 lakh pledged shares of Reliance Infrastructure

As many as 227.57 lakh shares were traded on the BSE and over 29 crore shares on the NSE during the day.

The is the third straight fall of the stock, which has witnessed an erosion of Rs 2,689.69 crore from its market valuation that now stands at Rs 15,175.31 crore on the BSE.

Shares of Yes Bank had tumbled 6.5 per cent at close of trade on Monday.

The bank on Friday said eight investors led by Erwin Singh Braich have evinced interest to pump USD 2 billion into the lender.

The board of directors of the bank will reconvene on December 10 to finalise and approve details of capital infusion, which will take place through preferential allotment, it informed the exchanges.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp