YES Bank shares were trading higher for the third consecutive session at Rs 12.28 on Monday. This was after the lender clarified over a report which claimed that the bank is in discussions with asset reconstruction companies (ARCs) to sell its NPAs worth Rs 32,344 crore.
Last week, few reports suggested that the troubled private sector lender is gearing up to sell its non-performing assets (NPAs) worth Rs 32,344 crore to asset reconstruction companies (ARCs) or other potential investors.
YES Bank, however in a clarification had said, "The Bank would like to clarify that, the Bank in its normal course of business explores options of selling NPAs to ARCs as it may deem necessary."
YES Bank share price opened at Rs 12.40 today, also the day's high of Rs 12.40, rising 0.89% in today's session. Earlier, the stock erased gains and hit an intraday low of Rs 12.26 as against the earlier close of Rs 12.29 on BSE.
Share of the private sector lender that exited from Nifty and Sensex has risen 0.33% in one week. However, the stock has fallen 6% in one month and 73% since the beginning of the year. YES Bank stock is trading lower than 5, 20, 50, 100 and 200-day moving averages. Market capitalisation of the lender stood at Rs 30,767 crore.
"Certain news articles reported by media carries a reference to pricing of the said stressed portfolio and specific structure, which is speculative and has no bona fide reference. The Bank at this point is not part of such specific discussions.," YES Bank added.
The stock price of troubled private sector lender, that has traded positive for the last three days, has been on a decline since the bank reported its June-Sept quarter earnings.
Last week, the lender posted a net profit of Rs 129.37 crore for the September quarter compared with Rs 600.08-crore loss posted in the corresponding period last year.Banking, IT stocks push Sensex to record high post Biden win in US election Rupee gains by 14 paise to 73.94 amid weak dollar, strong domestic equities