YES Bank zooms on reports SBI may pick stake; SBI recoups early losses

YES Bank has been struggling to raise capital for months. It also had to postpone its December 2019 quarter results as the fundraising process consumed most of its top management's time.

Shares of State Bank of India (SBI) slipped over 5 per cent in the intra-day trade on Thursday after news agency Bloomberg reported that the government has approved a plan for SBI to lead a consortium that will buy stake in YES Bank. SBI has also been authorised to pick other members of the consortium, the report added. READ MORE

The stock, however, reversed all its losses later and turned green. At 01:59 pm, SBI was trading nearly 1.5 per cent higher at Rs 289 apiece on the BSE. YES Bank, on the other hand, was quoting 22 per