YES Bank share price extends losses after Madhu Kapur sells stake
BusinessToday.In March 20, 2020
YES Bank share price erased early gains and fell 10% in the first hour of trade to Rs 49 on BSE.
Share price of YES Bank extended losses for the second straight session after a regulatory filing showed the lender's single-largest promoter Madhu Kapur, the widow of its founder-chairman Ashok Kapur, sold 2.5 crore bank shares in a block deal.
Earlier, YES Bank stock price opened 9.93% higher and touched an intraday high of Rs 61.95, rising 14.94% on BSE.
Amid market volatility, YES Bank stock traded in a range of Rs 12.95 and fell to the day's low at Rs 49, declining 9.09% against the previous close of Rs 53.90.
Market capitalisation of the large-cap stock stood at Rs 66,0125 crore today. The stock price of YES Bank has risen 100% in one week, 44% in one month and 9.3% since the beginning of this year.
Overall, 58.54 lakh and 532.22 lakh shares changed hands on BSE and NSE. Market depth data on BSE suggests 78% of sellers offering the stock against 22% buyers bidding for it.
The lender said yesterday rating firm CRISIL has assigned 'CRISIL A2' rating to Rs 2,000 crore worth certificate of deposit programme. Instruments with this rating carry low -credit risk and are considered to have a strong degree of safety regarding timely payment of the financial obligation
In another update, Indiabulls Housing Finance said in a regulatory filing late Thursday that the company has no loans outstanding from YES Bank.
On Wednesday, Reserve Bank lifted the moratorium on the private lender, that led to a sudden rise in the stock price.