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This article is more than 3 year old.

Yes Bank shares fall over 6.5% as uncertainty over CEO Rana Kapoor's continuation

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Shares of Yes Bank traded at Rs 339.60, sharply lower by 6.24 percent, losing Rs 22.60 in value, at 1.12 pm on the BSE.

Yes Bank shares fall over 6.5% as uncertainty over CEO Rana Kapoor's continuation
Shares of private sector lender, Yes Bank, traded at Rs 339.60, sharply lower by 6.24 percent, losing Rs 22.60 in value, at 1:12 PM on the BSE on Friday.
The scrip has been losing for the last four days and has fallen 11.50 percent in the period following uncertainty over managing director (MD) and chief executive officer (CEO) Rana Kapoor's future at the bank.
The stock opened at a loss of 5.22 percent at Rs 343 and fell to the day's low of Rs 338, slipping by 6.60 percent.
Yes Bank said Reserve Bank of India (RBI) has allowed Kapoor to continue as MD and CEO until further notice.
Citi Research initiated 30-day negative catalyst watch due to uncertainty around the continuation of Kapoor as MD and CEO.
Delay from RBI raises risk that Kapoor might not get an extension or might get a curtailed term, both of which could lead to stock volatility, Citi added.
Jefferies said the prominent challenge would be the thin capital position and without a visibility on the top management continuity, raising fresh equity would be a fairly troubled space.
In no other private bank MD appointments, RBI has requested for additional information and asked the board to “re-validate” the terms of reappointment at the 11th hour, said Macquarie.
More than 20.4 million shares changed hands, 2.2 times the 30-day moving average. Stock had risen 14.8 percent this year as of last close.
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(With inputs from Reuters)
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