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YES Bank share set to end the week on a flat note

YES Bank share price opened at the day's high of Rs 12.33, rising 0.40% in today's session. Earlier, the stock erased gains also hit an intraday low of Rs 12.22 as against the earlier close of Rs 12.28 on BSE

twitter-logoBusinessToday.In | November 6, 2020 | Updated 12:36 IST
YES Bank share set to end the week on a flat note
The stock price of troubled private sector lender, that has traded positive in the last two days, has been on a decline since the bank reported its June-Sept quarter earnings

YES Bank shares were trading flat at Rs 12.28 on Friday 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.

Earlier this week, 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.

However, today, Yes Bank 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 the day's high of Rs 12.33, rising 0.40% in today's session. Earlier, the stock erased gains also hit an intraday low of Rs 12.22 as against the earlier close of Rs 12.28 on BSE.

Share of the private sector lender that exited from Nifty and Sensex has declined 1% in one week, 7% in one month and 73.85% 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 as of today's session.

YES Bank added, "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."

The stock price of troubled private sector lender, that has traded positive in the last two 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.

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