Yes Bank Announcement

Yes Bank made an announcement on the rumors of the bank's exposure on derivatives.
The stock beaten yesterday very severly , but recovered today on account of this announcement.The stock is trading at 137 at this time.

"There have been unfounded rumors on Yes Bank's foreign exchange derivatives exposure and its implications on the Bank's operations. YES BANK confirms that it has a highly qualified top management and treasury team responsible for the Bank's foreign exchange risk portfolio with highly robust risk management and mitigation systems, processes and controls embedded within the Bank. YES BANK reiterates it has no uncovered exposure in the foreign exchange derivatives business and has a highly valuable treasury customer base which is consistently meeting all its maturing financial obligations"

source : Nse India