Yes Bank share value is beneath extreme stress, soon after heavyweight investors reduce stake in the prior quarter, and the firm posted disappointing fiscal fourth quarter final results. Yes Bank stock fell 7.6 per cent in the month of April. It additional tanked more than 13 per cent intraday yesterday soon after reporting a net loss of Rs 3,787.75 crore in January-March 2021, against a profit of Rs 2,629 crore in the similar period a year ago. Axis Bank, foreign portfolio investors (FPIs), and insurance coverage businesses reduce their stakes in Yes Bank in the January-March quarter of FY 2020-21. Today, Yes Bank share value was trading almost one per cent up at Rs 14.03 apiece on BSE in intraday bargains.
Axis Bank sold 10.86 crore Yes Bank shares throughout the quarter. Axis Bank has reduce its stake in Yes Bank to 1.96 per cent or 49.13 crore shares in March 2021 quarter, from 2.39 per cent or 60 crore shares in December 2020 quarter. State Bank of India (SBI), ICICI Bank, Bandhan Bank, and IDFC First Bank have kept their stake unchanged in Yes Bank, according to the shareholding pattern of the public shareholders. SBI continued to hold 30 per cent, ICICI Bank 3.99 per cent, IDFC First Bank 1.15 per cent and Bandhan Bank 1.20 per cent stake in Yes Bank.
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During the fourth quarter of FY 21, foreign portfolio investors (FPIs) also trimmed their stake in the private sector lender. FPIs held 344 crore shares or a 13.77 per cent stake in Yes Bank at the finish of March quarter. FPIs sold out 3.12 crore shares of Yes Bank. They held 15.01 per cent stake or 376 crore shares of Yes Bank at the finish of the December 2020 quarter. Similarly, insurance coverage businesses have lowered their stake to 5.57 per cent to 139 crore shares in January- March 2021, from 5.68 per cent or 142 crore shares throughout October-December 2020. While LIC (Life Insurance Corporation along with its scheme has kept their stake unchanged at 4.99 per cent or 125 crore.
Yes Bank’s deposits stood at Rs 1.63 lakh crore at the finish of March, up 55 per cent on-year and 11 per cent sequentially. The existing account savings account (CASA) ratio stood at 26.1 per cent in the fourth quarter of FY21, decrease than 26.6 per cent a year ago. The bank’s net interest margin (NIM), a essential measure of profitability, slid 180 basis points (bps) sequentially to 1.6 per cent.