YES Bank drops by 22 percent

YES Bank drops by 22 percent

Agency News

In the bloodbath of banking shares on Tuesday, YES Bank has been worst affected by shedding around 22 percent of its value to Rs. 32.

The YES Bank shares went into a tailspin in afternoon trade. It was one of the biggest losers on both Sensex and Nifty. According to the company's filing on BSE, the promoters of the bank have sold 2.16 per cent stake more. Yes Capital, Morgan Credits Pvt Ltd and Rana Kapoor have sold around 5.52 lakh shares through open market transaction.

Share price of YES Bank on Monday also tanked 15 per cent value amid concerns over its exposure to Indiabulls Housing Finance. YES Bank management said that the loss was due to speculation.