INSUBCONTINENT EXCLUSIVE:
Yes Bank shares ended 22.80 per cent lower on Tuesday.
Yes Bank said on Wednesday that the steep
fall in its shares the previous day was primarily on account of forced stake sale by a large shareholder
The statement from the private sector lender came a day after the Yes Bank stock nosedived as much as 29.92 per cent during the session
before paring some of those losses to still close at its lowest level recorded in over a decade
In a regulatory filing, Yes Bank said its "financial and operating metrics remain intrinsically sound and stable"
Here are 10 things to know about the steep fall in Yes Bank shares:In its filing to the Bombay Stock Exchange on Wednesday,
Yes Bank said its liquidity position remains "well in excess of regulatory requirements".Its liquidity coverage ratio - a measure of highly
liquid assets held by a financial institution - was in excess of 125 per cent as on September 30, it said
Financial institutions are required to maintain a liquidity coverage ratio of 100 per cent.Yes Bank shares ended 22.80 per cent lower on
Tuesday, falling for the fifth day in a row and shedding a total 42.91 per cent during this period.A selloff across financial sector stocks
weighed on the domestic stock markets on Tuesday as fraud allegations against a top mortgage lender and a prominent bank spooked
investors.Analysts say worries about the health of the country's financial sector hurt investor sentiment.Four banking stocks including
Yes Bank and the country's largest lender, SBI, contributed to half of the losses on benchmark index Sensex.Milestone Trusteeship Services
invoked and sold 10 crore Yes bank shares pledged by founder Rana Kapoor, according to the filing
Milestone Trusteeship Services is the trustee for an issue of bonds by Yes Bank promoter Morgan Credits Private.In a separate filing on
Tuesday, Yes Bank said Morgan Credits, founder Rana Kapoor and Yes Capital trimmed their stake by 2.16 per cent.The country's financial
ion both benchmark indices Sensex and Nifty in terms of percentage change
The domestic financial markets remained shut on Wednesday for Mahatma Gandhi Jayanti
Trading will resume on Thursday.Get Breaking news, live coverage, and Latest News from India and around the world on
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