• NSE
    • {{d.cmpname}}
    • {{d.price}}
    • ({{d.PerChg}}%)
Equity | News | Hot Pursuit
Hot Pursuit
Yes Bank snaps two day rising streak
(14:38, 12 Sep 2019)

Shares of Yes Bank soared 18.54% in the past two trading sessions to settle at Rs 71.60 yesterday, 11 September 2019, from its close of Rs 60.40 on 6 September 2019.

The recent rally was triggered by media reports suggesting that the bank's co-founder, Rana Kapoor is in talks with Paytm to sell his stake in the bank. Kapoor and his family hold 9.64% in Yes Bank, of which 69% is pledged with Reliance Nippon Asset Management. Kapoor is reported to have taken consent from Reliance Nippon to sell the shares and return the money of the lender.

As on 15 August 2019, total promoter holding in Yes Bank stood at 17.97%. The bank's co-founder Rana Kapoor held 3.921% stake while Madhu Kapur held 6.873% stake.

Reports added that the structure of the deal is still being discussed and much will depend on the approval from the Reserve Bank of India (RBI), as One97 and Paytm founder Vijay Shekhar Sharma already owns Paytm Payments Bank.

Paytm, One97 Communications's flagship brand, is India's largest digital goods and mobile commerce platform. Paytm is also a leading payment solutions provider to e-commerce merchants using its RBI approved semi-closed wallet.

Meanwhile, Yes Bank clarified to the bourses that the news items were speculative in nature. The bank said that in the usual and ordinary course of its business, it continues to explore various means of raising capital/funds through issuance of securities to diverse set of investors, in order to meet its business/regulatory requirements, subject to compliance with prescribed procedures and receipt of statutory/regulatory approvals.

Yes Bank announced on 30 August 2019, that it will raise the authorized share capital by increasing the equity shares to 450 crore equity shares of Rs 2 each, aggregating to Rs 900 crore from the current 300 crore equity shares of Rs 2 each that aggregates to Rs 600 crore. The preference shares would be kept constant at two crore shares of Rs 100 each aggregating to Rs 200 crore. The proposal is subject to requisite approvals.

The board has also delegated the powers to the capital raising committee of the board, with respect to the method and quantum of fundraising, including preferential allotment route, the bank said.

The board has also authorized the bank's MD & CEO Ravneet Gill to negotiate term sheets with prospective private investors.

Yes Bank recently raised Rs 1,930 crore via qualified institutions placement (QIP), which was open between 8 and 14 August 2019. The bank allotted 23.1 crore equity shares of face value of Rs 2 each to eligible qualified institutional buyers at Rs 83.55 each. The stock is currently 27.05% below the QIP issue price.

On BSE, 1.13 crore shares were traded in Yes Bank counter, compared to a 2-week average of 1.42 crore shares. The stock hit an intraday high of Rs 72.10 and an intraday low of Rs 67.20.

It hit a 52-week high of Rs 328.95 on 19 September 2018 and a 52-week low of Rs 53.15 on 22 August 2019.

Yes Bank's consolidated net profit fell 92.4% to Rs 95.56 crore on a 9.7% rise in total income to Rs 9,105.78 crore in Q1 June 2019 compared with Q1 June 2018.

Yes Bank is a private sector bank. It is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking and wealth management.

Powered by Capital Market - Live News

DB (International) Stock Brokers Limited: SEBI Reg. No.-INZ000179035 / CDSL : IN-DP-CDSL-266-2004 MCX-SX:INE 260643233/21500(CD)
Daga Commodities Private Limited: SEBI Reg. No. INZ000028833
Investor Grievances Email ID: compliance@dbonline.in & investors@dbonline.in
Copyright © 2016 All rights Reserved DB (International) Stock Brokers Ltd.     Designed, Developed and content powered by C-MOTS Infotech( ISO 9001:2015 certified )
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."         "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors."          "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Attention Investors ::
subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries