Yes Bank Mulls  fund raising, Stock Sees Volatile Today

Yes Bank Mulls fund raising, Stock Sees Volatile Today

Shares of India’s major private sector lender Yes Bank decline on Wednesday mid-session, in spite of media reported that the Board of Directors of Yes Bank will be meeting on Friday, 30-August, to approve a proposal for further fund raising.

On Tuesday, the Yes Bank informed the stock Exchanges that its director board will meet on 30th August to consider and approve raising of funds through issuance of equity shares. But the bank did not disclose the amount it intends to raise. Of late, the Yes bank has raised nearly Rs.1930 -Cr through Qualified Institutional Placement. (QIP).

Meanwhile, the stock of Yes Bank during mid-market session was seen in negative territory. At 12.10pm the stock was trading at Rs.61.05 per share, down by 5.35% from previous closing price of on the NSE. At the same time, the Nifty stood at 11061.55 down by 43.80-pts and the Sensex scaled at 37481.45, down by 159.82-pts. The stock of Yes bank hit an intraday high and low of Rs65.15 and 60.30 respectively.

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