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Finance

Yes Bank plunges on second-quarter profit miss; brokerages slash target prices

Updated : October 26, 2018 12:04 PM IST

The stock hit a low of Rs 168.60, with nearly 63 million shares being traded, as of 0605 GMT, nearly matching their 30-day moving average of 64.6 million shares.
A pile-up of bad loans have plagued the Indian financial sector and affected the bottomline for many banks as they set aside more money to cover-up for soured assets.
The lacklustre results come as the lender looks for a new chief executive by the February 1 deadline imposed by the Reserve Bank of India, which last month denied CEO Rana Kapoor an extension of his term with the firm he founded.
Yes Bank plunges on second-quarter profit miss; brokerages slash target prices
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