Shares of YES Bank fell nearly 4 per cent today amid reports that market regulator SEBI is looking into discrepancies in the company’s deferred $1-billion QIP plan.
The stock fell 3.78 per cent to Rs 1,206 on the BSE. On the NSE, shares of the company went down by 3.77 per cent to Rs 1,206.20.
On the volume front, 2.50 lakh shares of the company were traded on the BSE and over 29 lakh shares changed hands on the NSE in the morning trading session.
YES Bank, had last week, deferred its plans to raise $1 billion, citing extreme volatility in trading due to misinterpretation of new QIP guidelines.
Since then, the stock has declined by over 8 per cent.
As per media reports, SEBI is looking into the company’s notices to stock exchanges about the planned equity placement, surge in the scrip in the run-up to the issue date and its intra-day fall before the announcement to call off the issue.
RCom
Shares of Reliance Communications Ltd rose as much as 3.62 per cent to their highest in two weeks as the company plans to merge mobile business with Aircel.
The company had said yesterday that it would combine its wireless business with smaller rival Aircel in a deal likely to cut RCom’s debt by Rs 20000 crore
RCom and Maxis Communications Bhd, Aircel’s parent group, will each own 50 per cent of the merged carrier.
RCom also posted a nearly 6 per cent rise in consolidated profit for June-quarter.
As of Wednesday’s close, the stock was down 42.04 per cent this year.
MMTC
MMTC Ltd hit two-month high as the company’s June quarter loss narrowed Rs 7.01 crore in June quarter from Rs 30.55 crore a year earlier.
State-run trading firm MMTC Ltd rose as much as 7.49 per cent, to its highest since July 14.
The stock posted biggest its intraday percentage gain since July 5.