Yes Bank shares fall for second day in a row, down 7% after Ashok Chawla resigns as non-executive chairman

On Thursday, the Yes Bank shares had plunged over seven percent on the stock exchanges.

Press Trust of India November 16, 2018 14:03:39 IST
Yes Bank shares fall for second day in a row, down 7% after Ashok Chawla resigns as non-executive chairman

New Delhi: Extending its loss for the second consecutive day, shares of Yes Bank dropped 7 percent on Friday on bourses after the private sector lender's non-executive chairman Ashok Chawla stepped down with immediate effect.

After a negative opening on BSE, the scrip further declined 7.7 percent to touch an intra day low of Rs 190.1. At 1300 hrs, the shares were being traded at Rs 190.65, down 7.45 percent from the previous close.

Yes Bank shares fall for second day in a row down 7 after Ashok Chawla resigns as nonexecutive chairman

Representational image. Reuters

On the NSE also the scrip of the private bank continued to fall as it tumbled 7.6 percent to Rs 190, its lowest during the afternoon trade.

On Thursday, the private lender had plunged over seven percent on the stock exchanges.

In a regulatory filing on Wednesday, Yes Bank announced that Ashok Chawla, non-executive independent part-time chairman, had tendered his resignation from the bank's board, with immediate effect.

Further, former SBI chairman O P Bhatt has resigned from the panel set up by Yes Bank to find a successor to its MD and CEO Rana Kapoor.

The Reserve Bank has already asked the private sector bank to find replacement of founder MD and CEO by 31 January.

Last month, Yes Bank had said the panel looking for a successor to MD and CEO Rana Kapoor has finalised the potential candidate profile.

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