Yes Bank surges 30-pc as RBI clears divergence

The share price Yes Bank Limited advanced more or less 30 percent on Thursday morning after the private lender informed that no observation on diversion was found by the Reserve bank of India (RBI) in its asset classification and provisioning during 2017-18.

Earlier, the RBI has rebuked Yes Bank as it was discovered gross Non Performing Assets of Rs. 8373.8 in 2016-2017, whereas the bank had only reported Rs 2018 crore. Yes Bank reported divergences of Rs 6355 crore in 2016-17 and in 2015-16, it has reported divergences of Rs 4176 crore.

On Thursday morning session, Yes Bank share was opened at Rs. 186.35 and the stock hit a high of 220.25 or 30 percent high. At 11:00 am, the stock was trading at Rs. 205.05, up 21 percent. Meanwhile, the Nifty edged lower to 10755-mark, and the Sensex down nearly 129 points to 35904