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BusinessToday.In Last updated: September 25, 2018 | 12:18 PM IST Shares of YES Bank rose early in the session ahead of the private sector lender's board meeting later in the day to decide the Indian central bank's decision last week to cut the mandate of CEO Rana Kapoor until 31 January 2019.
In fact, the lender was the biggest Sensex and Nifty winner early in the session, up 4.11% and 4.59%, respectively.
The stock advanced after three consecutive days of decline of more than 29% after the RBI reduced the mandate of its founder and CEO Rana Kapoor as of January 31, 2019.
In a statement, YES Bank said: "The Bank wishes to inform its stakeholders that the Bank and its Managing Director will be fully guided by its Board of Directors (meeting scheduled for 25 September 2018), the Indian Reserve Bank and the Bank. other relevant stakeholders The Bank's management remains committed to protecting the interests of all its stakeholders. "
On September 20, 2018, the lender announced that it had received the rating from Moody's foreign currency issuer "Baa3". He also received a reaffirmation of [ICRA] AA + rating on various CIFAR borrowing programs, with a stable outlook on September 21, 2018.
The YES Bank share has lost 34.13% over the past year and has fallen 25.33% since the beginning of this year.
According to Reuters analysts' recommendations, 32 of the 46 brokerage firms rate stocks "buy" or "outperform", nine "hold" and five "underperform" or "sell".
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