Yes Bank shares tank over 9 pc; m-cap drops by Rs 4,642 cr

Shares of Yes Bank came under massive selling pressure Thursday, tumbling by over 9 per cent and wiping out Rs 4,642 crore from its market valuation. The stock dived 9.14 per cent to end at Rs 203.20 on BSE. Intra-day, it slumped 9.68 per cent to Rs 202.

At NSE, shares of the company plunged 9.16 per cent to close at Rs 203.25. The company's market valuation fell by Rs 4,642.47 crore to Rs 46,924.53 crore on BSE.

The stock was the worst hit among the blue-chips on both the key indices. In terms of equity volume, 57.98 lakh shares of the company were traded on BSE and over 9 crore shares changed hands at NSE during the day.

Shares of Yes Bank rose by nearly 2 per cent Wednesday, a day after the company's board decided to seek at least a three-month extension from RBI for its MD and CEO Rana Kapoor beyond January 31, 2019.

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The RBI had last week curtailed the three-year term that the board had sought for Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.