Stocks

Yes Bank shares drop over 8% after borrower defaults on loan

PTI New Delhi | Updated on July 02, 2019 Published on July 02, 2019

Shares of Yes Bank dropped over 8 per cent on Tuesday amid reports that a borrower defaulted on scheduled interest payments on a Rs 1,200-crore loan to the private lender. The scrip tumbled 7.60 per cent to close at Rs 100.85 on the BSE. During the day, it tanked 8.47 per cent to Rs 99.90.

At the NSE, shares of the company plunged 8.29 per cent to close at Rs 100.10. The scrip was the worst hit among the blue chips on both the key indices during the day. The company’s market valuation plunged Rs 6,569.35 crore to Rs 18,698.65 crore on the BSE.

In terms of traded volume, 91.94 lakh shares were traded on the BSE and over 14 crore shares on the NSE during the day. According to reports a Mumbai-based realty firm has failed to service interest payments on a Rs 1,200 crore loan to the lender.

Published on July 02, 2019
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