NEW DELHI, June 13: The scrip of Yes Bank Thursday came under massive selling pressure, tumbling nearly 13 per cent, after Moody’s placed the lender’s ratings under review for a possible downgrade.
The scrip extended its previous session’s fall and further tanked 12.73 per cent to hit a one-year low of Rs 117.50 — on the BSE.
At the NSE, shares plunged 12.87 per cent to Rs 117.40 — its 52-week low.
The scrip was the worst hit among the front-line companies on both key indices during the morning trade.
Shares of Yes Bank had dropped over 3 per cent Wednesday also.
Moody’s Investors Service has placed Yes Bank’s ratings under review for a possible downgrade citing its high exposure to the struggling NBFC and realty sectors.
“The ongoing liquidity pressures on finance companies will negatively impact the credit profile of Yes Bank, given its sizeable exposure to weaker companies in the sector,” a Moody’s note said Tuesday. (PTI)
Follow our WhatsApp channel
