Shares of YES Bank have rallied 6% to Rs 255 on the BSE in early morning trade after the private sector lender appointed US-based headhunter Korn Ferry to assist the bank’s committee in its selection of the new managing director & chief executive officer (MD & CEO).

The bank had announced that it would find a successor to MD & CEO Rana Kapoor whose term was cut short by the Reserve Bank of India (RBI).

Shares of YES Bank, Dewan Housing Finance Corporation, Goa Carbon, Philips Carbon Black and Infibeam Avenues have rallied more than 40% from their respective 52-week lows.

YES Bank was up 5% to Rs 237 in intra-day trade, extending its past two days 9% gain on the BSE, after the board of private sector lender inducted TS Vijayan, former chairman of Insurance Regulatory and Development Authority of India (IRDAI) and Life Insurance Corporation of India (LIC), and OP Bhatt, former CMD of State Bank of India (SBI), as external experts in the committee.

Yes Bank shares extended rally on Tuesday, and gained more than 4% intra-day after reports that promoters Rana Kapoor and Madhu Kapur have initiated moves to reach an out-of-court settlement. Notably, Yes Bank shares zoomed to an intra-day high of Rs 233.8, in second straight day of rally.

Private lender YES Bank, which recently formed a committee to search for a successor to its managing director and chief executive officer Rana Kapoor, will have two external members in the panel — T S Vijayan, former chairman of the Insurance Regulatory and Development Authority of India and O P Bhatt, former chairman and managing director of State Bank of India.

The private bank disclosed this to the stock exchanges in a filing on Friday.

Shares of YES BankN extended their rally for the second straight session after the lender said it is fully geared up for the succession plan for the post of its MD and CEO and will finalise two external experts for the search committee by October 7.

“The bank is fully geared for the MD & CEO’s succession. Pursuant to the board of directors meeting dated September 25, 2018, the two external experts of the Search & Selection Committee will be finalised by October 7, 2018," Yes Bank said in a statement.

Rana Kapoor, managing director (MD) and chief executive officer (CEO) at Yes Bank, reiterated his commitment to the bank and its stakeholders on Friday. In a series of tweets, Kapoor said his YES Bank shares were invaluable. He said he would never sell his shares, even after he demits office as the private lender’s MD and CEO.

YES Bank has denied any dealings with Three Sisters: Institutional Office — the investment vehicle of MD and CEO Rana Kapoor’s daughters. This was in response to clarifications sought by the National Stock Exchange on September 24 based on complaints it had received.

A day before a crucial board meet, Yes Bank on Monday said the lender and its CEO Rana Kapoor will be guided by the directors, the Reserve Bank of India and other relevant stakeholders.

The board of India’s fourth-largest private sector bank will meet on Tuesday to decide on the next course of action after the central bank directed the lender’s current CEO and managing director Rana Kapoor to step down by January.

New Delhi: Private sector lender Yes Bank Tuesday said it has raised USD 400 million (approx Rs 2,894 crore) through syndicated loan facility, borrowed out of its IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT).

The bank said this amount will be utilised to support the IBU's growing business.

Shares of YES Bank hit an over four-month low of Rs 322 per share, down 5% on the BSE on the back of heavy volumes.

The stock was the largest loser among the S&P BSE Sensex and Nifty 50 index at 02:17 pm. In comparison, the benchmark indices were up 0.2% each.

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