Yes Bank shares plunge over 13 pc

New Delhi, Mar 12 () Shares of Yes Bank on Thursday gave up all gains made in recent sessions, plunging over 13 per cent.

The stock had surged over 77 per cent in the last two trading sessions.

On the NSE, the stock closed 13.02 per cent lower at Rs 25.05. It hit a low of Rs 17.45, shedding more than 39 per cent.

On the BSE, it settled at Rs 25.05, lower by 13.02 per cent. It touched an intra-day low of Rs 22.55, down 21.70 per cent.Advertisement

In terms of volume, more than 33 crore shares were traded on the NSE and over 3.2 crore units were exchanged on the BSE.

The stock had rallied after State Bank of India (SBI) said it will pick up 49 per cent stake in the lender for Rs 2,450 crore.

Last week, the Reserve Bank has imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account.

Yes Bank has been struggling to raise capital amidst its dwindling financial health. It sought to raise USD 2 billion initially during this fiscal, which was then pruned to USD 1.2 billion as it could not rope in any investor.

The BSE Sensex, meanwhile, plunged over 2,919 points on Thursday in its biggest one-day fall in absolute terms as the coronavirus pandemic wreaked havoc on global markets. RUJ ANSANS

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