Share price of this large-cap bank stock jumped by nearly 2.74% on BSE to Rs. 23.6 in the morning trading session of March 20th, compared to its previous close of Rs. 22.97, after the sale of a stressed loan exposure.
With a market capitalisation of Rs. 66,277 crores, at 01:31 p.m., the shares of Yes Bank Limited were trading in the green at Rs. 23.05, up by nearly 0.44%.
The company has delivered positive returns of about 49.8 percent in the last one year and nearly 27.7 percent in the last six months. So far in 2024, it has given positive returns of around 1.5 percent.
According to recent regulatory filings with the stock exchanges, on January 20 this year, YES BANK Limited invited Expression of Interest for the sale of identified stressed loan exposures via auction under the Swiss Challenge Method.
The Bank has undertaken this in accordance with the provisions of the Reserve Bank of India’s Master Direction on Transfer of Loan Exposures, 2021.
It completed the transfer of its exposure in Katerra India Private Limited to Prudent ARC Limited, an asset reconstruction company, and received a cash consideration of Rs. 203.4 crore.
Katerra India is the Indian branch of US-based Katerra whose US and Cayman Island entities filed for Chapter 11 bankruptcy protection in 2021.
In terms of financials, the company’s revenue from operations grew by 4.09 percent QoQ from Rs. 6,714 crore in Q2 FY23-24 to Rs. 6,989 crore in Q3 FY23-24, accompanied by an increase in net profit of 6.11 percent from Rs. 229 crore in Q2 FY23-24 to Rs. 243 crore in Q3 FY23-24.
YES BANK Limited is a banking company engaged in providing a wide range of banking and financial services.
The Bank received the licence to begin banking operations from the Reserve Bank of India (RBI) on May 24, 2004.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
