Yes Bank shares fall over 8% after borrower defaults on loan
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New Delhi: Shares of Yes Bank dropped over 8 per cent Tuesday amid reports that a borrower defaulted on scheduled interest payments on a ₹1,200-crore loan to the private lender.
The scrip tumbled 7.60 per cent to close at ₹100.85 on the BSE. During the day, it tanked 8.47 per cent to ₹99.90.
At the NSE, shares of the company plunged 8.29 per cent to close at ₹100.10.
The scrip was the worst hit among the blue chips on both the key indices during the day.
The company's market valuation plunged ₹6,569.35 crore to ₹18,698.65 crore on the BSE.
In terms of traded volume, 91.94 lakh shares were traded on the BSE and over 14 crore shares on the NSE during the day.
According to reports a Mumbai-based realty firm has failed to service interest payments on a ₹1,200 crore loan to the lender.
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