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Yes Bank falls 2% after India Ratings downgrades long term ratings
In the last 15 days, the share price slipped over 30 percent.
Shares of Yes Bank declined 2.4 percent in the early trade on Thursday after India Ratings has downgraded the company's long-term ratings.
India Ratings has downgraded banks long-term ratings to AA- with a negative outlook.
Meanwhile, it has reaffirmed its short term rating of the bank with A1+.
In the last 15 days, the share price slipped over 30 percent.
Recently, research firm ICRA downgraded the bank's tier-I bond rating from "AA-" to "A" and tier-II bonds from "AA" to "AA-" The outlook is negative on both bonds.
On April 26, the company reported a quarterly loss of Rs 1,507 crore as compared to Rs 1,179.44 crore in the quarter ended March 2018.
The share touched its 52-week high Rs 404 and 52-week low Rs 147 on 20 August 2018 and 29 November 2018, respectively.
Currently, it is trading 60.72 percent below its 52-week high and 7.96 percent above its 52-week low.
At 09:36 hrs Yes Bank was quoting at Rs 159.10, down Rs 1.65, or 1.03 percent on the BSE.
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