Mumbai: Private sector lender Yes Bank today plunged nearly 7 percent in morning trade on BSE amid reports that the Netherlands-based investor Rabobank is looking at selling its 10 percent stake in the bank in order to set up its own banking operations in India.
Shares of Yes Bank plummeted 6.63 percent to touch a low of Rs 263 a piece on the Bombay Stock Exchange (BSE). The scrip fell to a low of Rs 262.80, down 6.69 percent, on the National Stock Exchange.
According to the sources, Rabobank is planning to sell about 10 percent of its stake in the bank through open market operations, mainly block deals, to more than one investor in the near future.
"The stock saw momentary reaction from investors in the market.
Source: PTI
