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Shares of Yes Bank rose by over 3 per cent on Wednesday after the company’s Managing Director (MD) and Chief Executive Officer (CEO) Rana Kapoor said he is in talks with co-promoter Madhu Kapur to reach a truce.
Also, the company assured that the recent resignations will not have any bearing on crucial processes, including the selection of Kapoor’s replacement as the new MD and CEO for the bank. This helped the stocks to gain significantly.
The scrip gained 2.83 per cent to close at Rs 198 on the BSE. During the day, it jumped 4.25 per cent to Rs 200.75.
The stock was the top gainer among the 30-Sensex components.
At NSE, shares of the company went up by 3.27 per cent to end at Rs 198.40.
”Efforts are underway for mutual resolution with Madhu Kapur and family, the co-promoter of the Bank. This is intended to ensure better support and coordination by the two promoter groups with the Board of Directors of the Bank,” the bank said in a late evening statement Tuesday.
“The new MD & CEO selection process is on track, as per committed timelines,” it said.
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