In early hours of trading, Private lender Yes bank stock prices dropped to record low of 5.65. Yesterday, share were closed at 36.8 .Stock registered 84.64 percent drop in the price for a day. Stock recovered 290% from day’s low and is currently trading at 16.4.
According to NSE data, lenders market capitalisation is just 4,18,277.45 lakhs rupees now.
In yesterdays, trade stock prices had zoomed by more than 27 percent after Government have created SBI led consortium to buy stakes in Yes bank.
Stock reacted today harshly to rating downgrade by JP Morgan .On 5 March, JP Morgan cut price target to just 1 rupees from 55 rupees earlier.In today’s trading,dropped to record low and stock registered 52 week low at 5.65. Yesterday, central government had put cap of 50000 rupees for withdrawal of money from the bank.