YES Bank Shares Drop 5% After Exclusion from Sensex

Guwahati, December 23, 2019:

YES Bank shares dropped 5 per cent on Monday after its scrip was excluded from the 30-share benchmark Sensex.

The bank is among the four other stocks that were excluded from Sensex on Monday. Tata Motors, Tata Motors DVR and Vedanta were among the others that were replaced with Nestle India, Titan and Ultra Tech Cement, according to reports.

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YES Bank has been among the worst performers on Sensex. It has been facing issues including shrinking liquidity and a rise in bad loans.

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The market cap of the bank currently stands at Rs. 13,083. Reports say that it is seeking to raise funds and are currently reviewing their offers. Earlier, it was reported that the Chairman of Hero Corporate Services Ltd, Sunil Munjal, and Veteran investment banker and founder of DSP Group, Hemendra Kothari may acquire 10 percent of Yes Bank.

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