YES Bank rallies 15% on co-founder Rana Kapoor's stake sale reports

Reports of YES Bank co-founder Rana Kapoor (pictured) selling his stake in the bank to One97 Communications — the owner of Paytm — led to a rally in the lender’s stock on Wednesday. Shares were up 15 per cent in intra-day trade, befo­re closing with 13.5 per cent gains at Rs 71.6 apiece. Kapoor and associate entities owned 10.6 per cent in the bank as of June 2019, and around 7.3 per cent of the family stake has been pledged with Reliance Nippon Asset Management Company. 

Analysts believe the investment by new investor would impart confidence to the Street. “After the