Business
Street signs: New YES Bank shares enter the market, high-beta RIL, and more
YES Bank shares – High-risk investors have shifted to the partly paid (PP) counter of Reliance Industries (RIL) to generate more bang for the buck
New YES Bank shares enter market Over 12.5 billion new YES Bank shares issued in the follow-on public offering (FPO) will commence trading from Monday. This will nearly double the equity base of the lender to 25.05 billion shares. Market players said the new shares, issued at Rs 12 apiece, are likely to exert downward pressure on the stock.
Already, the stock has lost nearly 30 per cent in the last four trading sessions, from Rs 19.4 on July 20 to Rs 13.9. Also, the stock exchanges have lowered the circuit filter on the stock from 20 per cent to 10 per cent. Market players said this …