Yes Bank slips 4% amid uncertainty over rating outlook for promoter-issued NCDs

Shares of Yes Bank continued its slide as it ended lower by nearly 4 percent on Monday.

Investors reacted to a buzz of two big investors fearing ratings assigned NCDs could be shaky after the steep fall in stock price in the past few months.

In the last week Rentala Chandrashekhar, Independent Director has tendered his resignation from the bank’s board, with immediate effect, due to personal reasons.

He was the third member to resign from the bank’s board after Vasant Gujarathi and Ashok Chawla tendered their resignation.

The share touched its 52-week high Rs 404 and 52-week low Rs 166.15 on 20 August, 2018 and 28 September, 2018, respectively.

Currently, it is trading 53.99 percent below its 52-week high and 11.89 percent above its 52-week low.

The share price declined 52 percent in last 3 months.

Yes Bank ended at Rs 187.95, down Rs 7.60, or 3.89 percent on the BSE.

[“source=cnbc”]