The shares of one of India’s leading Private Sector banks gained 6.3 percent to Rs 20.62 a share on Wednesday after the company received Rs 120 crore from the sale of the NPA portfolio.
At 11:30 a.m., Yes Bank Limited shares were trading at Rs 19.95 per share, up 2.84 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of Rs 57,344 crore.
According to the company’s exchange filing, Yes Bank received a redemption amount of Rs 120 crores from the sale of the NPA portfolio to JC Flowers ARC.
With the reference to bank’s earlier disclosure about the Sale of the NPA Portfolio to JC Flowers ARC on December 17, 2022. In this regard, the Bank has received a redemption amount from a single trust in the Security Receipts Portfolio after the company sold the Loan Portfolio to J.C Flowers Asset Reconstruction Private Limited (“JC Flowers ARC”).
Yes Bank shares have delivered a return of 26 percent over the last six months and 17 percent in a year.
Yes Bank’s revenue has increased by 24 percent yearly, from Rs 6,451 crore in Q2FY23 to Rs 7,980 crore in Q2FY24. In the same time frame, the company’s net profit climbed by 36 percent, from Rs 160 crore to Rs 228 crore.
As per the recent shareholding pattern, Foreign institutional investors hold 23.39 percent, domestic institutional investors hold 40.9 percent stake and retail investors own 35.69 percent stake.
Yes Bank Ltd is engaged in providing a wide range of banking and financial services including working capital finance, specialized corporate finance, trade and transactional services, treasury risk management services, investment banking solutions, and many more.
Written by Omkar Chitnis
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