Private sector lender YES Bank continued to be under pressure, and its scrip fell nearly 6 per cent on the BSE on Tuesday, nearing an almost five-year low.
The bank’s shares lost 5.94 per cent and closed at ₹109.30 apiece on the BSE. It also hit a new 52-week low of ₹107.10 apiece during intra-day trade.
It fell by a similar 5.94 per cent on the NSE, and closed the day at ₹109.25 apiece.
Target price
Global brokerage firm UBS had cut the target price to ₹90 from ₹170, and had maintained a “sell rating”.
Analysts have also been raising concerns over the bank’s asset quality after it reported a net loss of ₹1,507 crore in the quarter ended March 31, 2019.
Last week, Moody’s placed ratings of YES Bank under review for a downgrade due to its high exposure to the struggling NBFC and real estate sectors.