Yes Bank shares continue to fall; drop over 5%

Shares of Yes Bank continued to fall for the fourth straight session and ended with over 5 percent loss, a day after the company said it has received RBI's approval for the continuance of Rana Kapoor as MD and CEO of the company till further notice from the central bank.

The stock dropped 5.11 percent to end at Rs 343.40 on BSE. During the day, it cracked 6.6 percent to Rs 338.

On NSE, shares of the company tumbled 5.18 percent to close at Rs 343.

In terms of equity volume, 49.74 lakh shares of the company were traded on BSE and over 8 crore shares changed hands on NSE during the day.

In four trading sessions, the stock slumped 10.36 percent, wiping out Rs 9,069.93 crore from its market valuation to Rs 79,261.07 crore on BSE.

In June this year, Yes Bank's shareholders had approved the re-appointment of Kapoor as CEO and MD for three years, subject to final approval from the Reserve Bank.

"We wish to inform you that the bank has received RBI's approval that Rana Kapoor may continue as Managing Director and CEO of YES Bank till further notice from RBI," the bank said in a regulatory filing.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)