Share of private sector lender YES Bank rose over 2% today ahead of the board meeting to consider raising of funds. The share rose 2.67% to Rs 14.59 against previous close of Rs 14.21 on BSE. Market cap of the lender rose to Rs 36,254 crore. The stock has gained after 2 days of consecutive fall.
The share trades higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
The stock has fallen 18.48% since the beginning of this year and lost 52.48% in one year.
Total 122.47 lakh shares of the lender changed hands amounting to turnover of Rs 17.75 crore on BSE. The share hit 52-week high of Rs 31.70 on June 11, 2020 and 52-week low of Rs 11.10 on July 28, 2020.
The company board will meet today to consider, approve and seek shareholders' approval for borrowing, the bank said in a regulatory filing earlier this week without mentioning the amount.
The bank said it will raise funds in "Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, medium-term note."
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.