Yes Bank falls 1.1% amid stake sale reports

MUMBAI: Parting with early gains, Yes Bank today settled 1.12 per cent down on the Bombay Stock Exchange amid reports that its Dutch investor Rabobank International Holding is considering selling stake in the private bank.

Cutting short three days of gains, shares of Yes Bank closed at Rs 292.20, down 1.12 per cent on BSE. During the trade the scrip had soared 1.35 per cent to a year-high level of Rs 299.50.

Shares of Yes Bank had climbed nearly 7 per cent since June 1 to touch a 52-week high of Rs 299.50.

Rabobank International Holding BV held 15.9 per cent in Yes Bank, as per March quarter shareholding pattern available on BSE.

On the National Stock Exchange, the scrip closed down 0.90 per cent at Rs 292.60.

A total of 50.33 lakh shares of Yes Bank changed hands on both the bourses.

Meanwhile, the BSE benchmark index Sensex closed up 95.36 points, or 0.56 per cent, at 17,117.69 points.

According to a media report, Rabobank International Holding BV plans to dilute its present stake in the private sector lender because it wants to open a branch in India.

Under the Indian banking regulations, a foreign bank that holds a stake in a domestic bank cannot simultaneously operate a branch network in the country, the report added.

Rabobank currently operates in India through Rabo India Finance Ltd, a non-banking financial company, it said.