YES Bank plunges 8%, recovers

Shares of YES Bank witnessed a sudden plunge of 8 per cent to Rs 228.85 on BSE during Wednesday's session, before recovering slightly.

The stock traded 4.48 per cent down at Rs 237.95 at 10:20 am after media reports that the bank's board had recommended retrieving bonuses paid to MD and CEO Rana Kapoor for two years ended March 31, 2016 following adverse observations made by RBI. The report said the board recommended that no bonuses be paid to Kapoor for fiscals 2016-17 and 2017-18 and also proposed no bonus for the following year.

The bank has since formed a five-member CEO search panel to look for a successor for Rana Kapoor.


In a BSE filing on Wednesday, the bank said that it would host an earnings call with analysts and investors on October 25, 2018.