Sensex up 129 pts, Yes Bank tanks 7%
Sensex advanced 129 points during the early trade on Wednesday while the Nifty traded slightly below the 11,900 mark.
Yes Bank fell over 7 per cent after it postponed the decision to approve or decline the binding offer of $1.2 Billion -- 60 per cent of the total capital the bank aims to raise -- submitted by mysterious investor Erwin Singh Braich on Tuesday.
Yes Bank, however, said it is willing to "favourably consider the offer of $500 Million of CitaxHoldings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting.."
At 9.59 a.m., the Sensex was up 129.98 points or +0.32 per cent at 40,369.86. The Nifty jumped 35.05 points at 11,891.85.IANS