Rounak Jain14 Dec 2022, 16:59
Global brokerage firm Morgan Stanley initiated coverage of Yes Bank, giving it an ‘underweight’ rating, saying that it is moving in the ‘right direction’. Yes Bank’s shares tumbled nearly 8% on Wednesday after rallying 26% in the last five days. This fall comes at a time when the bank has announced an investment of ₹8,896 crore by two private equity funds, the Carlyle Group and Verventa Holdings, an Advent group entity, for a 9.99% stake.