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Yes Bank Surges 22% After Worries Concerning Promoter Pledge Recede
In early trade on Thursday, Yes Bank shares climbed higher by as much as 25%, after the lender clarified that its previous day's steep fall was account of the forced sale of pledged shares (3.92% of the bank's equity capital).
Also, as per the BSE filing, the company stated that its intrinsic financial position is sound and the liquidity position is well beyond the regulatory stipulations.
On Tuesday, the shares of Yes Bank tumbled heavily on concerns of its heavy exposure to Indiabulls Housing. The shares hit an all time low of Rs. 29 per piece on the BSE.
Meanwhile, indices are again on a lower side, as growth concerns mount after the US fresh tariff against the European Union.
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