The shares of Yes Bank tanked nearly 10% for the second session to a 29 month low. The management crises of the bank continues to escalate as the Reserve Bank of India (RBI) has reduced the 3-year term of CEO Rana Kapoor beyond the month of January.
The bank, earlier this week has said that it needs some more time to find the ideal replacement for Mr. Kapoor.
"The bank's woes will continue till there is uncertainty around it," said R Sreesankar, co-head - institutional equities at Prabhudas Lilladher.
Last week, the RBI refused to extend the tenure of Kapoor beyond January 31, 2019 despite the shareholders requesting for extending his tenure.
The shares of the Yes Bank, opened strong on the Bombay Stock Exchange (BSE) but it failed to hold on to its strong opening as it tumbled down to its 52 week low to Rs 184.45.
On the National Stock Exchange (NSE), the bank's shares fell to 1-year low as it plunged to Rs 183.65.