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 Yes Bank zooms over 29 per cent
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Yes Bank zooms over 29 per cent

Agency News

Yes Bank's share price had plunged by nearly 30 per cent during intra-day trade on Tuesday (October 1), before closing the session down by 22.8 per cent at Rs 32.

For the past many days the share price of Yes Bank had been marking regular fall after much negative news including the Bank’s investment in debt-ridden Indiabulls. The private sector lender’s share price had plunged by nearly 30 per cent during intra-day trade on Tuesday (October 1), before closing the session down by 22.8 per cent at Rs 32. This one-day plunge owes to the selling of bank shares by YES Capital (India), Morgan Credits Private and Rana Kapoor, founder of the Yesbank. They together sold 552 lakh shares, or 2.16 per cent which had a negative impact on the share price on Tuesday.

The stock zoomed 29.3 per cent to Rs 41.40, on the BSE. On the NSE, it jumped 29 per cent to Rs 41.30. The private sector lender on Wednesday had assured the investors of a stable financial position. Yes Bank also said its financials are strong, with the liquidity position well in excess of regulatory requirements.