Markets

YES Bank plummets further

Our Bureau Mumbai | Updated on August 22, 2019 Published on August 22, 2019

 

Private sector lender YES Bank’s scrip continued to remain under pressure and plunged by nearly 14 per cent on Thursday with concerns over its exposure to CG Power. The bank’s scrip fell 13.91 per cent to close at ₹56.3 on the BSE. Intra-day, it hit a new 52-week low of ₹53.15. YES Bank had in May acquired 12.8 per cent stake in CG Power and Industrial Solutions on invocation of pledged shares of its promoter. Gautam Thapar-promoted CG Power and Industrial Solutions had on August 20 disclosed that certain assets of the company were purportedly provided as collateral without due authority.

Published on August 22, 2019
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