• Deccan Chronicle
  • Andhra Bhoomi
  • Asian Age
  • ePaper
  •  Auto Refresh
Home

ePaper
Last Updated:05:06 AM IST | Saturday, Jan 28, 2023
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Menu
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Home > Companies > Yes Bank stock slumps over 5 pc on ratings downgrade
Companies
Yes Bank stock slumps over 5 pc on ratings downgrade
By  
PTI   , Published : Dec 6, 2019, 11:05 am IST | Updated : Dec 6, 2019, 11:05 am IST

The lender's shares were trading at 58.75 apiece, down 5.39 per cent on the BSE.

The rating downgrade comes days before the board of the bank is slated to meet on December 10 to finalise the fund raising plans.
The rating downgrade comes days before the board of the bank is slated to meet on December 10 to finalise the fund raising plans.

New Delhi: Yes Bank shares tumbled over 5 per cent in morning deals on Friday, hit by ratings downgrade by Moody's Investors Service.

The lender's shares were trading at 58.75 apiece, down 5.39 per cent on the BSE.

Likewise, the stock dived 5.23 per cent to Rs 58.85 per unit on the NSE.

Global ratings agency Moody's Investors Service on Thursday downgraded the ratings on the private sector lender, with a negative outlook, expressing concerns on its asset quality troubles and the shrinking capital buffers.

The rating downgrade comes days before the board of the bank is slated to meet on December 10 to finalise the fund raising plans.

It also said the bank's claim to have received investor interest to the tune of USD 2 billion has "significant execution risks around the timing, pricing as well as regulatory approvals".

"Yes Bank's funding and liquidity compares weakly to other rated private sector peers, and can come under pressure if the bank failed to strengthen its solvency in the next few quarters," it added.

end-of
Tags: 
yes bank, shares, revenue
Location: 
India, Delhi, New Delhi
Latest From Companies
HUL CMD Sanjiv Mehta said the results show that the long-term structural opportunity of FMCG in India remains intact.

HUL Q1 net profit rises 5.7 pc to Rs 1,897 crore

The management of Radar has built and exited 3 different businesses themselves which helps the sensitise first time and even veteran entrepreneurs.

Radar India advisors scales a new high

The top seven cities of Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru accounted for 4.45 billion km.

Delhi sees more night trips than Bengaluru, Mumbai, says Ola

Most Popular

Mukesh Ambani 9th richest on Forbes' real-time billionaires list
Top credit card myths harmful for your financial well-being
Microsoft CEO Satya Nadella tops Fortune's Businessperson of the Year 2019
Employment growth slowed down in last two years: report
GST structure: key challenges and its solutions

Editor's Picks

Income tax e-filers drop by over 6.6 lakh in FY19: Official data
Swiping on your smartphone reveals a lot about you to your social media company
  • Read Financial Chronicle as it appears in print.
  • Subscribe, and get it delivered in the inbox everyday.
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
  • Home
  • About Us
  • Contact Us
  • Terms of Service
  • Privacy Guidelines
  • Copyright © 2019 Financial Chronicle, All rights reserved
Developed & Maintained By Daksham