Yes Bank shares tank over 39% to Rs 17.45 on NSE; give up all gains made in recent sessions

Shares of Yes Bank on Thursday gave up all gains made in recent sessions, plunging over 39 percent to Rs 17.45 on the NSE

Press Trust of India March 12, 2020 15:08:30 IST
Yes Bank shares tank over 39% to Rs 17.45 on NSE; give up all gains made in recent sessions
  • The Yes Bank shares had surged over 77 percent in the last two trading sessions

  • The stock had rallied after State Bank of India (SBI) said it will pick up 49 percent stake in the lender for Rs 2,450 crore

  • Last week, the Reserve Bank has imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account

New Delhi: Shares of Yes Bank on Thursday gave up all gains made in recent sessions, plunging over 39 percent to Rs 17.45 on the NSE.

The stock had surged over 77 percent in the last two trading sessions.

Yes Bank shares tank over 39 to Rs 1745 on NSE give up all gains made in recent sessions

Representational image. News18

On the NSE, the stock was quoting 12.67 percent lower at Rs 25.15. It hit a low of Rs 17.45, shedding more than 39 percent.

On the BSE, it was trading at Rs 25.10, lower by 12.85 percent. It touched an intra-day low of Rs 22.55, down 21.70 percent.

The stock had rallied after State Bank of India (SBI) said it will pick up 49 percent stake in the lender for Rs 2,450 crore.

Last week, the Reserve Bank has imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account.

Yes Bank has been struggling to raise capital amidst its dwindling financial health. It sought to raise $2 billion initially during this fiscal, which was then pruned to $1.2 billion as it could not rope in any investor.

Updated Date:

also read

SBI Agri gold loan for farmers: Check eligibility details, interest rate and more
Business

SBI Agri gold loan for farmers: Check eligibility details, interest rate and more

All the farmers, Agri entrepreneurs, and owner cultivators are able to avail the benefits of this scheme

These government banks are offering senior citizens higher interest rates on FDs than Post Office; check here
Business

These government banks are offering senior citizens higher interest rates on FDs than Post Office; check here

The interest rates promised are significantly greater than those provided by the Post Office. The 666-day fixed deposit plan offered by Canara Bank guarantees senior citizens a 7.5 percent return on their investment

Cupronickel Re 1, 50 paise coins going out of circulation? All you need to know
Business

Cupronickel Re 1, 50 paise coins going out of circulation? All you need to know

According to the official notification by ICICI Bank branch, some coins cannot be reused under RBI regulations. These include Cupronickle coins of some denominations