Yes Bank close to its low

Yes Bank has been among the top losers on the BSE since morning. The stock fell almost 7.5% to Rs.101.20, not too far from its 52-week low of Rs.98.75.

Economic Times reported today morning that BKC developer, Radius Developers has defaulted on scheduled interest payments on a Rs.1200 crore loan to Yes Bank.

The company is reported to have a total exposure of Rs.5500 crore to the banking system. The company has delayed payment of Rs.30 crore  and it seems it is sure to make this payment to Yes Bank by 5^th of July.

There is no official word about this from Yes Bank yet.