Stocks

YES Bank falls after Moody's places company under review for downgrade

Reuters June 12 | Updated on June 12, 2019 Published on June 12, 2019

Shares of YES Bank Ltd fell as much as 3.94 per cent to Rs 134.05, their fourth fall in five sessions.

Moody's placed YES Bank's rating under review for downgrade on Tuesday, saying ongoing liquidity pressure would negatively impact the credit profile of the private-sector lender.

The company pared gains on Tuesday after Moody's announcement. Separately, YES Bank was fined Rs 1.1 million rupees by the Reserve Bank of India on Tuesday for not complying with regulatory guidelines.

The stock has shed over 23 per cent this year as of last close, compared to bigger rivals HDFC Bank Ltd that rose 15.4 per cent and ICICI Bank Ltd's 17 per cent gain.

Published on June 12, 2019
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