Yes Bank Ltd shares dropped over 6% in early trade after the lender informed the exchanges that it has acquired 9.47% stake in Eveready Industries by invoking pledged shares. <\/p>\n\n\n\n
Yes Bank stock fell as much as 6.2% to Rs 90.20 in intraday trade.\nMeanwhile, Eveready Industries shares jumped over 3% in early trade. <\/p>\n\n\n\n
Yes Bank acquired around 6.9 million shares of Eveready Industries on the\ninvocation of pledge after McLeod Russel defaulted on its loan. Eveready\nIndustries and Mcleod Russel India are both part of B M Khaitan Group\ncompanies. Shares of McLeod Russel also fell 5%. <\/p>\n\n\n\n
\u201cShares have been acquired pursuant to invocation of pledge of shares of\nEveready Industries India Ltd subsequent to default\/breach of terms of credit\nfacilities sanctioned by Yes Bank to McLeod Russel India Ltd which is a group\ncompany of BM Khaitan Group,\u201d Yes Bank said. <\/p>\n\n\n\n
In a recent development, Price Waterhouse and Co Chartered Accountants LLP\n(PwC) quit as Eveready Industries\u2019 auditor, saying it was unable to obtain\nsufficient audit evidence of inter-company deposits and its recovery. <\/p>\n\n\n\n
Yes Bank shares have dropped over 70% in the last one year compared with a\n12% rise in the benchmark Nifty 50 index. The stock has been under tremendous\npressure due to a series of downgrades and fears of further slippage in asset\nquality. <\/p>\n\n\n\n
Yes Bank recently underwent a massive balance sheet clean-up task under new\nchief executive Ravneet Gill. It posted a whopping Rs 1,506 crore net loss\nduring the March quarter as provisions soared over nine times. <\/p>\n\n\n\n
Gill, however, assured investors last month that the worst is over for the\nbank and there are unlikely to be any further nasty surprises due to higher bad\nloans or slippages from its watchlist. <\/p>\n\n\n\n
About Eveready:<\/strong> Yes Bank Ltd shares dropped over 6% in early trade after the lender informed the exchanges that it has acquired 9.47% stake in Eveready Industries by invoking pledged shares. Yes Bank stock fell as much as 6.2% to Rs 90.20 in intraday trade. Meanwhile, Eveready Industries shares jumped over 3% in early trade. Yes Bank […]<\/p>\n","protected":false},"author":13,"featured_media":3433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[74],"class_list":["post-3432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-bank-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=3432"}],"version-history":[{"count":2,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3432\/revisions"}],"predecessor-version":[{"id":3460,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3432\/revisions\/3460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/3433"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=3432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=3432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=3432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Headquarters: Kolkata, West Bengal
Founded: 1905
About Yes Bank: <\/strong>
CEO: Ravneet Gill
Headquarters: Mumbai
Founded: 2004 <\/p>\n","protected":false},"excerpt":{"rendered":"