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Last Updated : Jan 16, 2020 03:54 PM IST | Source: Moneycontrol.com

Yes Bank climbs 3% as the lender assures of its stability

Shares of the company rose after the bank assured its customers on its liquidity and stability.

 
 
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Shares of Yes Bank rose as much as 3 percent on the BSE in morning trade on January 16 and looked on course to extend the gains into the second straight day.

On January 15, the stock had gained 3.24 percent on BSE.

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Shares of the company rose after the bank assured its customers on its liquidity and stability.

In a press release on January 15, the bank said: "We firmly assure all our customers on Yes Bank's liquidity and stability. In this regard, it may be noted that the bank's overall capital adequacy ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the bank even further."

Besides, the bank, in a separate BSE filing, informed that it had acquired SICAL Logistics, a company engaged in providing dredging and retail supply chain logistics solutions.

"We wish to inform you that Yes Bank has, pursuant to invocation of pledge of shares, acquired 60,00,000 equity shares having nominal value of Rs 10 per share, constituting approximately 10.25 percent of the post-issue paid-up share capital of a listed company, namely, SICAL Logistics Limited," Yes Bank said in a BSE filing.

"Shares acquired on the invocation of pledge subsequent to default/breach of terms of credit facilities sanctioned by Yes Bank," the BSE filing added.

Shares of Yes Bank have been under pressure of late amid reported of its unsuccessful attempts of fundraising.

The stock was 1.13 percent up at Rs 40.25 on BSE around 10:50 hours IST.
First Published on Jan 16, 2020 11:10 am
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