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National Stock Exchange (NSE) in its circular said that no Future and Options contracts shall be available in the Yes Bank for trading in the equity derivative segment from May 29, 2020, onwards.
The existing Future and Options contracts, across all expiries, shall expire on May 28, 2020.
Due to the recent development in Yes Bank Limited, it has been decided that no fresh or renewal of Bank Guarantees and Fixed deposit receipt issued by Yes Bank limited shall be accepted. Further, haircut in respect of shares of Yes Bank Limited provided as collaterals shall be revised to 100% with effect from begin the day of March 06, 2020, NSE said in the circular.
The stock came under selling pressure after the RBI on Thursday has restricted withdrawal from capital-starved Yes Bank at Rs50,000 in the next one month. However, the RBI said it may allow payment of over Rs50,000 to Yes Bank.
Stock view:
The stock is currently trading at Rs22.15, down by Rs14.7 or 39.89% from its previous closing of Rs36.85 on the BSE.
The scrip opened at Rs33.20 and has touched a high and low of Rs33.20 and Rs22.15 respectively.