Shares of Yes Bank surged over 6 per cent Monday following reports that executive Rajat Monga and CEO of a foreign bank have been shortlisted to succeed Managing Director and Chief Executive Officer Rana Kapoor.
The stock zoomed 6.22 per cent to settle at Rs 195.40 on the BSE. Intra-day, it surged 7.63 per cent to Rs 198.
At the NSE, shares of the company jumped 5.83 per cent to end at Rs 195 apiece.
The stock was the biggest gainer on both the exchanges during the day.
The company's market valuation also moved up by Rs 2,703.63 crore to Rs 45,182.63 crore on the BSE.
In terms of equity volume, 82.82 lakh shares of the company were traded on the BSE and over nine crore shares changed hands at the NSE during the day.
Currently, Monga is the senior group president of financial markets at Yes Bank.
"There are only two names that have been selected by the bank as final candidates for the recommendation of the Reserve Bank to replace incumbent Rana Kapoor who has to step aside on January 31," sources said Friday.
Last week, the bank told stock exchanges that it had shortlisted the names of potential candidates to succeed Kapoor, who is to demit office by month-end.
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