HSBC to sell stake in Yes Bank, stock slips over 2%

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Shares of Yes Bank Ltd slipped over 2 per cent in the early trade on Bombay Stock Exchange (BSE) after reports suggested that the HSBC is planning to sell its 4.8 per cent stake in Yes Bank, nearly 1.7 crore shares, at a price between Rs 318 and Rs 325 per share.

HSBC will sell 1.96 crore shares at a price band of Rs 950-970.9 per share.

Shares of the company hit a weekly low of Rs 327 and were trading at Rs 330.60, down 1.21 per cent on the BSE.

In a similar fashion, shares of the company were quoting at Rs 330.10 a piece, down 1.42 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 17,008.31, up 40.55 points at 10:35 hours.

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