India's Yes Bank has had a rocky ride. But it is not alone in its troubles
now begin in India with a scan of the headlines and then a click to check on the shares of Yes Bank, the country’s fourth-largest private bank. They peaked at 394 rupees in August 2018, and have staggered downwards ever since. On October 1st they hit 32 rupees after a 23% drop on the day, before rising by 23% on October 3rd asYes is not alone in its troubles.
Although Yes’s problems are real, market movements may be exaggerating them. Some of the selling pressure has come from the forced liquidation of a large stake that had been retained by Mr Kapoor but pledged as collateral for loans. Holding companies linked to him have also sold shares to cut their debt. These sales created a vicious circle that may now be exhausted.
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