Yes Bank shares fall 16%

New Delhi: Shares of Yes Bank on Thursday plummeted nearly 16 per cent, wiping off Rs 1,046.07 crore from its market valuation, after a Moody's report said the Altico default may be credit negative for banks given their significant exposure to the real estate sector.

The scrip cracked 15.52 per cent to close at Rs 54.15 on the BSE.

During the day, it plunged 17.23 per cent to Rs 53.05, its one-year low. On the National Stock Exchange (NSE), shares dropped 15.75 per cent to close at Rs 54 apiece.

Led by the sharp fall in the scrip, the company's market valuation tumbled Rs 1,046.07 crore to Rs 13,809.93 crore on the BSE.