Business Today
Loading...

YES Bank share price falls for 6th day; circuit limit revised to 10%

YES Bank share price on Friday fell 6.44% in opening trade and later fell 7.8% to hit a day's low of Rs 13.6 on BSE and NSE. With this, YES Bank share has fallen 30.56% in the last six days

twitter-logoBusinessToday.In | July 24, 2020 | Updated 14:40 IST
YES Bank share price falls for 6th day; circuit limit revised to 10%
YES Bank stock has lost over 30% in one week, 48% in one month and over 70% since the beginning of the year 2020

Shares of YES Bank were trading lower for the sixth consecutive session on Friday. The stock fell almost 8% which subsequently led to BSE and NSE revising the circuit limit to 10% from 2% earlier.

YES Bank share price on Friday fell 6.44% in opening trade and later fell 7.8% to hit a day's low of Rs 13.6 on BSE and NSE. With this, YES Bank share has fallen 30.56% in the last six days.

YES Bank share price is trading lower than 5, 20, 50, 100 and 200-day moving averages. YES Bank stock has lost over 30% in one week, 48% in one month and over 70% since the beginning of the year 2020. Market capitalisation of the firm stood at Rs 17,319.65 crore as of today's session.

The scrip of the private lender has been on a continuous downfall since it concluded its Rs 15,000-crore follow-on public offer (FPO). Although rating agency Moody's feels, capital raising by the bank is credit positive.

FPO that closed on July 17, was subscribed 93% on the third and last day of the bidding process. The public issue received bids for Rs 14,272 crore equity shares against the issue size of Rs 15,000 crore, (including anchor book portion), data compiled from BSE and NSE showed. While shares are expected to get credited by July 24, the listing of FPO shares is likely to take place on July 27, 2020.

YES Bank FPO: How to check allotment status

In March 2020, the lender approached bankruptcy. YES Bank's financial crisis has largely been attributed to growing NPAs and poor management. The cash-strapped lender came under RBI's  radar after it placed restrictions on the cash-starved private lender due to its inability to raise funds. With the government firm reconstruction scheme for the beleaguered YES Bank, various investor banks led by State Bank of India and the country's largest insurer LIC were roped in to invest in the stressed lender.

Rupee slips 23 paise to 74.98 amid strong US dollar, weak equities

Stocks in news: Can Fin Homes, HPCL, Wipro, Bank of Maharashtra, AU Small Finance Bank

Share Market News Live: Sensex falls 380 points, Nifty at 11,104; Axis Bank, Hindalco, ICICI Bank top losers

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close