InvestorQ : Why are the stocks prices of Yes Bank and Bharti Infratel down in early trades on 26 December, Thursday?
Riya Dwivedi made post

Why are the stocks prices of Yes Bank and Bharti Infratel down in early trades on 26 December, Thursday?

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rhea Babu answered.
2 years ago
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There have been some negative news flows on both the stocks. Let me talk about Yes Bank first. Yes Bank has been facing a series of downgrades on its borrowing facilities in the last few weeks. Now, Brickwork Ratings has also downgraded the ratings of Yes Bank’s lower Tier II Bonds from BWR AA- to BWR A, and of upper Tier II Bonds, hybrid Tier I Bonds and innovative perpetual debt instruments from BWR A+ to BWR A-.The rating agency has maintained its negative outlook for the bank, considering its weak financials and vulnerable core capital situation. That has put pressure on the stock price.

Bharti Infratel is down due to further delay in the finalization of its tower sale. The board of directors of Bharti Infratel once again allowed more time to the company to secure a key government approval for its merger with Indus Towers Ltd. The company’s board had in October extended the long stop date to December 24 for the companies to secure this approval and to complete the merger which was originally announced in April 2018. However, with the AGR dues pending from Bharti Airtel, the government has been holding back any such approvals for group companies.

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