YES Bank shares plunged as much as 10% to hit the lower circuit at Rs 19.09 apiece on Thursday.
At 2:26 pm, YES Bank shares were trading 9.24% lower at Rs 19.25. In comparison, the BSE Sensex was trading 1.90% higher at 74,146.
The sharp decline came after the Supreme Court struck down YES Bank's Rs 8,415 crore write-off of Additional Tier 1 (AT-1) bonds, potentially exposing the private sector lender to fresh liabilities linked to its government-backed rescue in 2020.
A bench comprising Justices Dipankar Datta and Augustine George Masih upheld the Bombay High Court's 2023 judgment, dismissing appeals filed by YES Bank and others against the ruling.
This is a developing story.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.