New Delhi: Shares of Yes Bank continued to fall for the second session Friday, falling sharply by nearly 10 per cent to hit its one-year low. Also Read - Yes Bank Gets New Board, Decides to Raise Additional Rs 5,000 Crore
Despite positive opening, the stock failed to hold on to the gains and later cracked 9.22 per cent to Rs 184.45 – its 52-week low – on BSE. Also Read - Rishi Kapoor Posts Prayer in Favour of Kanika Kapoor-Yes Bank Founder Rana Kapoor, Says 'Kuch “Kapoor” Logon pe Time Bhaari Hai'
On NSE, shares of the company dropped 9.64 per cent to hit a one-year low of Rs 183.65. Also Read - Yes Bank Founder Rana Kapoor Sent to Judicial Custody Till April 2
Shares of Yes Bank witnessed massive selling pressure Thursday also tumbling by over 9 per cent.
The stock was the worst hit among the blue-chips on both the key indices during morning trade.
Shares of the bank rose by nearly 2 per cent Wednesday, a day after the company’s board decided to seek at least a three-month extension from RBI for its MD and CEO Rana Kapoor beyond January 31, 2019.
The RBI had last week curtailed the three-year term that the board had sought for Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.