Yes Bank shares halt two-day slide, soar nearly 10% after lender claims fully geared up for succession plan
Shares of Yes Bank were falling for the past two days, plunging by 18 percent.
New Delhi: Shares of Yes Bank soared nearly 10 percent on Monday when the lender said it is fully geared up for the succession plan for the post of its MD and CEO and it will finalise two external experts for search committee by 7 October.
The stock zoomed 9.68 percent to end at Rs 201.20 on the BSE. During the day, it jumped 14.30 percent to Rs 209.70.
On NSE, shares of the company climbed 8.82 percent to close at Rs 199.85.
The stock was the biggest gainer among the blue chips on both the key indices.
RBI last month curtailed the three-year term that Yes Bank's board had sought for its MD and CEO Rana Kapoor, also one of the promoters of the bank, to 31 January, 2019, and asked the bank to find a replacement.
"The bank is fully geared for the MD & CEO's succession. Pursuant to the Board of Directors meeting dated September 25, 2018, the two external experts of the Search & Selection Committee will be finalised by 7 October, 2018," Yes Bank said in a statement.
The stock was falling for the past two days, plunging by 18 percent.
Shares of Yes Bank went into a tailspin in afternoon trade on Tuesday despite a positive opening, tumbling nearly 20 percent
Yes Bank shares sink 34%; m-cap erodes by Rs 14,452 crore as Reserve Bank of India trims Rana Kapoor's term as CEO
The Yes Bank stock was the top loser among the blue-chips on both the key indices during the morning trade
Yes Bank denies window dressing of corporate accounts to hide non-performing assets; shares fall 10%
Shares of Yes Bank came under massive selling pressure on Thursday, tumbling by over 9 percent and wiping out Rs 4,642 crore from its market valuation.