Yes Bank shares open at 95.00 on Friday. The stocks fell by 8.62 percent ahead of the Union Budget. The stock closed at 87.95.
Yes Bank shares have nosedived a whopping 70% in the last one year, with major portion of the correction happening after former chairman Rana Kapoor was asked to step down by the Reserve Bank of India (RBI) earlier this year.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 404 on 20 August 2018 and a 52-week low of Rs 98.70 on 2 July 2019.
The stock has been under tremendous pressure due to a series of downgrades and fears of further slippage in asset quality. Yes Bank recently underwent a massive balance sheet clean-up task under new chief executive Ravneet Gill. It posted a whopping Rs 1,506 crore net loss during the March quarter for as provisions soared over nine times.
Gill, however, assured investors last month that the worst is over for the bank and there are unlikely to be any further nasty surprises due to higher bad loans or slippages from its watchlist.
The promoter holding in Yes Bank is currently at 19.8%, while Institutions and Non-Institutions hold 61.31% and 18.89%, respectively.
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