Market

Yes Bank shares trade at 33-month low, fall 15% in last three sessions

Updated : November 28, 2018 03:57 PM IST

The immediate negative trigger for Yes Bank shares was Moody's Investors Service downgrading its rating outlook to negative from stable,

Shares of Yes Bank fell to a 33-month low of Rs 164.65, continuing its recent downtrend, after opening at Rs 180.40. The private sector bank's shares have fallen 15 percent in the last three sessions amid a series of negative news, denting investor confidence in the stock. For the year, the stock trades nearly 50 percent down.

The immediate negative trigger for Yes Bank shares was Moody's Investors Service downgrading its rating outlook to negative from stable, citing board resignations and concerns over corporate governance.

The rating agency has downgraded the bank's foreign and local currency bank deposit ratings to Ba1 from Baa3 and foreign currency senior unsecured MTN programme rating to Ba1 from Baa3. Its baseline credit assessment (BCA) and adjusted BCA to ba2 from ba1.

Also, catch all the action and updates in our Market Live blog. For updates and developments on the ongoing assembly elections, follow our Assembly Elections 2018 Live blog.

Yes Bank shares trade at 33-month low, fall 15% in last three sessions

You May Also Like

Expect H2 domestic gas price at $1.97/MMBtu, lowest ever: CARE Ratings

Oil tanker that caught fire off Sri Lankan coast to pay $1.8 million

Stock Market Highlights: Sensex ends 1,115 points lower, Nifty below 10,850 following global selloff

Trending on CNBC-TV18

recommended for you