YES Bank share price zoomed over 10 percent intraday after the lender said it would consider fundraising via debt on June 10. Share of YES Bank climbed up to 10.63% at Rs 15.19 against previous close of Rs 13.73 on BSE. The stock also hit an intraday low of Rs 13.81. The large cap stock has gained 12.63% in the last four days.
The banking stock trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.
The share has risen 47.67% in one year but fallen 15.62% since the beginning of this year.
Market cap of the firm rose to Rs 37,757 crore on BSE.
"A meeting of the Board of Directors of Yes Bank will be held on Thursday, June 10, 2021 to consider and approve, seek shareholders' approval for borrowing/raising funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN)," Yes Bank said in a press release.
In Q4 of last fiscal, the private sector lender posted a whopping standalone net loss of Rs 3,788 crore due to a fall in income and jump in provisions for bad loans.
The bank had reported a loss of Rs 3,668 crore in the same period last year. However, due to the exceptional write back of Rs 6,296.94 crore, the bank's bottomline turned positive at Rs 2,628.61 crore during January-March period of 2019-20.
During the quarter, total income declined to Rs 4,805.30 crore from Rs 5,818.59 crore in the same period a year ago.
Provisions (other than tax expense) and contingencies rose to Rs 5,239.59 crore as compared to Rs 4,872.34 crore.
On the asset front, the bank's gross non-performing assets (NPAs) as of March 31, 2021 stood at 15.41 per cent of the gross advances, slightly down from 16.80 per cent in the year-ago period. However, net NPAs rose to 5.88 per cent from 5.03 per cent in the year-ago period.
For the full 2020-21 fiscal, the bank narrowed its net loss to Rs 3,462.23 crore from a loss as high as Rs 16,418.02 crore in the previous year. Total income during the year also witnessed a decline to Rs 23,382.56 crore from Rs 29,508.10 crore a year ago.
The bank said proactive provisioning of Rs 250 crore towards COVID-19 related restructuring (Rs 2,500 crore) is expected to be implemented in first quarter of the current fiscal.