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Yes Bank halts rally, plunges over 25% to below Rs 50 apiece

Yes Bank halts rally, plunges over 25% to below Rs 50 apiece

Yes Bank halts rally, plunges over 25% to below Rs 50 apiece
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By Ankit Gohel  Mar 19, 2020 11:57:21 AM IST (Updated)

Shares of Yes Bank tanked more than 20 percent on Thursday after a sharp upsurge seen in previous sessions. The stock hit an intraday low of Rs 45.15 after falling 25.74 percent on the BSE.

Shares of Yes Bank tanked more than 20 percent on Thursday after a sharp upsurge seen in previous sessions. The stock hit an intraday low of Rs 45.15 after falling 25.74 percent on the BSE. At 11:30 am, the shares were trading 16.45 percent lower at Rs 50.80 on the BSE.

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The shares of Yes Bank have advanced 135 percent in last 3 sessions after its reconstruction scheme came into effect, and have advanced from a low of Rs 5.95 that it hit on March 6, a day after the government imposed a moratorium and the RBI took over its board.
The stock of Yes Bank is now dropped from benchmark index Nifty 50, banking index Nifty Bank and other Nifty indices effective Thursday.
On Wednesday, the bank informed that its promoter Madhu Kapur had pledged an additional 0.098 percent or 25 lakh share of her family's shareholding of 6.87 percent in the bank. In an exchange filing, the bank said Kapur has only 0.117 percent or 3 lakh shares which are not pledged now.
Yes Bank has resumed all banking services as the moratorium imposed on the lender was lifted on Wednesday evening. Besides, the lender would extend banking time for three days starting Thursday. On March 5, the Reserve Bank of India (RBI) had imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor.
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