Yes Bank shares continue to fall, tank 13% after Moody's places lender's ratings under review for possible downgrade

New Delhi: The scrip of Yes Bank on Thursday came under massive selling pressure, tumbling nearly 13 percent, after Moody's placed the lender's ratings under review for a possible downgrade.

The scrip extended its previous session's fall and further tanked 12.73 percent to hit a one-year low of Rs 117.50 -- on the BSE.

 Yes Bank shares continue to fall, tank 13% after Moodys places lenders ratings under review for possible downgrade

Representational image. Reuters.

At the NSE, shares plunged 12.87 percent to Rs 117.40 -- its 52-week low.

The scrip was the worst hit among the front-line companies on both key indices during the morning trade.

Shares of Yes Bank had dropped over 3 percent on Wednesday also.

Moody's Investors Service has placed Yes Bank's ratings under review for a possible downgrade citing its high exposure to the struggling NBFC and realty sectors.

"The ongoing liquidity pressures on finance companies will negatively impact the credit profile of Yes Bank, given its sizeable exposure to weaker companies in the sector," a Moody's note said Tuesday.

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Updated Date: Jun 13, 2019 12:25:15 IST