Yes Bank halts 4-session rally, stock tumbles over 29%; lender says single largest promoter Madhu Kapur pledged additional 25 lakh share
In the last four trading days, Yes Bank's scrip had risen a whopping 142 percent after Moody's upgraded the company's ratings and on announcement of a restructuring plan.
New Delhi: Shares of Yes Bank on Thursday halted its four-session rally and plunged over 29 percent after the company said its single largest promoter Madhu Kapur has pledged an additional 25 lakh share of her family's shareholding in the bank.
The scrip plummeted 25.74 percent to Rs 45.15 at the BSE.
On the NSE, it cracked 29.19 percent to Rs 42.80.
In the last four trading days, the company's scrip had risen a whopping 142 percent after Moody's upgraded the company's ratings and on announcement of a restructuring plan.
Yes Bank, which came out of the RBI moratorium on Wednesday evening, said its single largest promoter Madhu Kapur, the widow of its founder chairman Ashok Kapur, has 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 last evening, the bank said Kapur has only 0.117 percent or 3 lakh shares which are not pledged now.
Equity benchmarks returned to winning ways on Thursday after two days of declines as investors snapped up financial, pharma and IT stocks amid firm Asian cues
Shyam Metalics has raised Rs 270 crore from its 22 anchor investors before the IPO. The price range of Shyam Metalics IPO was Rs 303-306 per share
The board will try declaring another round of dividend but it is expected to be less than two interim dividends of Rs 7.5 and Rs 5 on each share of Rs 10 each, sources said