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Why Yes Bank Shares falls today?

Top-NIfty-Losers

During Wednesday mid-market, shares of Yes Bank declined over 4-percent to move near to its lowest level in about six months. The stock slumped by 4.5pc to hit an intraday low level of Rs148.10, on NSE.  On BSE too, the stock went down an intraday low at 147.30per share. In the past month the Yes bank stock has declined by 44pc.

The falls comes out after the RBI appointed past deputy governor Rama Subramaniam Gandhi as additional director on the board of the Yes Bank for a period of 2 years.  The Bank is further hopeful, that the new appointment will make stronger its board’s excellence.

However, top credit rating agencies such as Brickwork Ratings, CARE Ratings, India Ratings and ICRA have down-graded the long term ratings on Yes Bank stocks with a negative viewpoint.

During mid-noon hours at 11:56 hrs, shares of Yes bank traded lower at Rs147.40 per share down 5.42pc on the NSE.  In comparison, the NSE bench mark Nifty quoted at 11,262, up by 40 points and the Sensex traded higher by 188 points at 37506.65

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