Shares of YES Bank
hit an over four-month low of Rs 322 per share, down 5% on the BSE
on the back of heavy volumes.
The stock was the largest loser among the S&P BSE
Sensex and Nifty 50 index at 02:17 pm. In comparison, the benchmark indices were up 0.2% each.
The trading volumes on the counter more than doubled with a combined 36.43 million equity shares or 1.5% of total equity of YES Bank
changed hands on the NSE
The stock of private sector lender was trading at its lowest level since April 25, 2018. It has fallen 18% in past three weeks, as compared to 1% rise in the S&P BSE
Sensex. It touched an all-time high of Rs 404 on August 20, 2018, on the BSE.
Since August 31, 2018, in past six trading days, the market price of YES Bank
slipped 11% after the bank said it has received the Reserve Bank of India’s (RBI's) approval for the continuance of Rana Kapoor as managing director and CEO of the bank till further notice from the central bank.
A sharp fall in market price of YES Bank
has seen the bank’s market capitalisation (market-cap) eroded by Rs 159 billion during the past three weeks. YES Bank
with Rs 746.91 billion market-cap currently stands behind of Bandhan Bank, which has market-cap of Rs 781.58 billion, the BSE