New Delhi: Yes Bank of the private sector, facing a financial crisis, has announced to raise capital of Rs 15,000 crore through follow-on public offer (FPO). The issue will open to the general public on July 15 and will close on July 17. Prior to this, there has been a huge decline in the stock of Yes Bank. On Tuesday, Yes Bank’s share has fallen by 6% and it was found to be trading at the level of 20 rupees. The FPO has opened for anchor investors on 14 July i.e. today.
Sluggishness in the Indian stock market once again dominates due to the growing case of Corona at the global level and the ongoing tussle between the US and China. In early trade, the Sensex was found to be trading below the 36,300 marks with a drop of 300 points, while the Nifty fell to a level of 10,700 with a weakness of about 80 points. Talking about the telecom sector, the telecom company Voda Idea shares saw a decline of 3%, while the shares of Airtel also appeared under pressure. According to the PTI report, Vodafone Idea has filed a petition in the Telecom Tribunal TDSAT against the TRAI’s directive to ban special plans. TRAI asked Vodafone Idea and Bharti Airtel to stop those special plans, under which some customers are being provided faster Internet speed in certain plans.
The stock of Reliance Industries Limited (RIL) is seen sluggish in Tuesday’s business. On Monday, the maximum increase of 3% was recorded in Reliance. The company said that Qualcomm, the top company in the wireless technology sector, has bought a minor 0.15% stake in its unit Jio Platforms.
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