YES Bank share hit upper circuit of 5% today after the lender said it fully repaid Rs 50,000 crore to the Reserve Bank of India (RBI) it borrowed under the SLF (special liquidity facility) window. The private sector lender took the money amid the crisis faced earlier this year. The stock has gained 6.88% in the last 2 days. The share climbed 5% to Rs 14.61 in afternoon trade.
There were only buyers, no sellers for the stock. The share trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
The share has lost 79.59% in one year and fallen 68.88% since the beginning of this year. In a month, the stock is down 6.23%. Total 272.39 lakh shares changed hands amounting to turnover of Rs 39.46 crore on BSE. Market cap of the lender rose to Rs 36,605 crore.
Chairman Sunil Mehta said entire payment was made well ahead of the due date as the private sector lender received strong customer inflows. Addressing the bank's shareholders at its annual general meeting (AGM) held virtually on Thursday, Mehta also cleared the air regarding the bank's merger with the State Bank of India (SBI), clarifying that there were no such plans.
Of late, YES Bank has been witnessing challenges on the financial front. In Q1 of the current fiscal, the lender reported a 60% fall in its standalone net profit to Rs 45.44 crore for the first quarter ended June 30.
The private sector lender had posted a net profit of Rs 113.76 crore a year earlier.
Total standalone income for the quarter fell 32.8% to Rs 6,106.74 crore, from Rs 9,088.80 crore in the same period of 2019-20, Yes Bank said. There was substantial deterioration in the bank's asset quality as the gross non-performing assets (NPAs) rose to 17.3% of gross advances as on June 30, 2020, from 5.01% a year ago.