YES Bank share price falls 10% after lender denies reports of investment by Microsoft

By: |
Updated: Oct 09, 2019 1:16 PM

Yes Bank shares on Wednesday fell about 10 per cent after the lender denied the reports about strategic investment by Microsoft Corporation and two other tech firms for likely stake sale.

yes bank stocks rose, yes bank has given bonus to employee, yes bank to hiring for top position, यस बैंक के निवेशकों और कर्मचारियों के लिए अच्छी खबरThe stock of the private lender tumbled 9.98 per cent intraday to Rs 41.05 as compared the previous closing price of 45.60.

Yes Bank shares on Wednesday fell about 10 per cent after the lender denied the reports about strategic investment by Microsoft Corporation and two other tech firms for likely stake sale. The denial came a couple of days after a report said that Microsoft is among the three firms that are in talks with the private sector lender for stake sale. The stock of the private lender tumbled 9.98 per cent intraday to Rs 41.05 as compared the previous closing price of 45.60. The stock was the top laggard on both NSE and BSE. “Not aware of the source, which resulted in the news item and as a matter of policy, the bank would not like to comment on such article,” YES Bank said in an exchange filing. YES Bank shares were trading at Rs 44.10, down 1.55 points, or 3.40 per cent on NSE at the time of reporting.

“The Bank in the usual and ordinary course of its business continues to explore various means of raising capital/ funds through issuance of securities to diverse set of investors, in order to meet its business I regulatory requirements, subject to compliance with prescribed procedures and receipt of statutory I regulatory approvals,” the private lender also said.

Also read: Share Market LIVE: Competitiveness slump, IMF’s slowdown concerns weigh on sentiment; Sensex, Nifty flat

Meanwhile, YES Bank recently filed a complaint against the fake news and rumours circulating on WhatsApp and other social media platforms regarding the bank’s financial health. YES Bank issued a statement and said that it will continue to protect the interest of its stakeholders. The bank has been reiterating its sound financial health after the bank’s promoter group company Morgan Credits sold 2.3 per cent stake in the company. “The board of directors of YES Bank would like to state that the financial position of the bank is sound and stable, its operating performance continues to be robust, and its growth plans stay firmly on track,” YES Bank said in a statement.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1MTAR Tech IPO: Check share allotment status via BSE, registrar’s website; grey market premium, listing date
2Stocks in focus: BPCL, Coal India, SBI Cards and Payment Services, Tata Motors, Wipro, PSP Projects
3‘Buy’ on Concor; additional upside is privatisation