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Mumbai: Yes Bank Ltd has bought 16.65 million shares, constituting 2.66% of the paid-up share capital, of CG Power & Industrial Solutions Ltd in multiple tranches over the previous few days, the lender stated in a submitting to inventory exchanges.
The financial institution now holds 10.12% stake in CG Power.
At 09:39 am, shares of Yes Bank Ltd had been up 2.49% to ₹26.75, CG Power fell 4.97% to ₹9.76 and the benchmark index, Sensex gained 0.39% to 36498.88.
On Wednesday, shares of CG Power fell 5% to shut at ₹10.27 on the BSE and Yes Bank gained 1.36% to shut at ₹26.10, whereas the benchmark index, Sensex misplaced 0.94% to shut at 36329.01.
Since the start of the yr, CG Power misplaced 5% and Yes Bank has misplaced 44% in opposition to a fall of 12% in the Sensex. From March lows, shares of CG Power greater than doubled and Yes Bank shares rose shut to 5 instances, whereas Sensex was up 42%.
On a consolidated foundation, CG Power reported web lack of ₹283.53 crore in March quarter in contrast with web lack of ₹181.29 crore a yr in the past. Net gross sales fell 69% to ₹616.25 crore in the quarter.
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