YES Bank share price clocks world's biggest gain in one month, rises 78%

YES Bank share, the world's worst-performing lender in 2019, has risen over 78% in one month, the biggest gain among global peers valued at more than $1 billion. However, YES Bank share price has lost 68% during the last one year and fallen 61% since the beginning of this year. After a series of negative developments in the second half of 2019 roiled the stock, YES Bank share price has recovered and gained momentum on management's efforts to raise funds.

The stock has risen 140% since October 1 from its 52-week low of Rs 29.05 after founder Rana Kapoor  was forced to sell his holdings.

Also read: Why Rakesh Jhunjhunwala bought 1.3 crore shares of YES Bank

In late September 2019, founder Rana Kapoor was forced to sell his holdings and a new management team promised fresh capital and lower bad loans.

On October 1, YES Bank share price plummeted over 23 percent to hit a fresh 52-week low of Rs 29.05 on a report that the lender's promoters have sold another 2.16 percent stake in the bank.

According to a report in The Economic Times, YES Capital (India), Morgan Credits Private and Rana Kapoor jointly sold 552 lakh shares, or 2.16 per cent, stake in the open market during September 26 to September 27.

However, the stock rebounded after management asserted its stable financial position and on reports that global private equity firms - TPG, The Carlyle Group and Farallon Capital - were seeking to buy large strategic stakes in the private lender.

Also read: YES Bank share opens 10% lower on Q2 loss, attempts recovery amid $3 bn infusion reports

On October 3, YES Bank share price closed 32.97 percent or 10.55 points higher on BSE after the private sector lender reaffirmed its stable financial position following a crash in stock in the previous trading session. On Nifty, the stock ended 33.59% higher at Rs 42.75.

On October 7, YES Bank share rose over 9 percent intra day at Rs 45.95 compared to the previous close of Rs 42.15 on BSE after reports emerged that global private equity firms - TPG, The Carlyle Group and Farallon Capital were interested in buying stake in the lender. Microsoft too was reported to be interested in buying stake in the lender.

Also read: YES Bank share rallies over 8% after Rakesh Jhunjhunwala buys 1.3 crore shares

On October 15, YES Bank share price rose 3.5 percent intraday after the bank announced that it sold 6.77 percent stake in Fortis Healthcare Limited for Rs 645 crore. In a bulk deal, YES Bank offloaded its remaining stake shares at an average price of Rs 130.27, valuing the transaction size at Rs 645.09 cr and completely exited the from the hospital chain' shareholding.

On October 18, a media report said industrialists Sunil Mittal and Sunil Munjal have shown their interest in acquiring stake in the private sector lender. However, later a Bharti spokesperson strongly denied such rumours. YES Bank too in a clarification denied the rumour and said as a policy, the bank would not comment on the matter. However, its share price rose over 9 percent intra day to Rs 52.30 that day compared to the previous close of Rs 47.40 on BSE.

On October 22, YES Bank share price gained nearly 10% intraday to Rs 56.5 amid media reports that the bank was set to take over an estimated Rs 6,000-crore residential project from the developer Sumer Radius Realty, over non-payment of dues worth more than Rs 479 crore.

The shares of cash-crunched lender fell on November 4 after it posted quarterly loss of Rs 629 crore in June-September 2019 quarter on November 1, compared to a net profit of Rs 964.70 crore in Q2 of September 2018, due to a rise in bad loans. This was the second-biggest loss reported by the lender after Rs 1,506.60 crore loss posted in March quarter this year.

Also read: Rakesh Jhunjhunwala may have lost Rs 715 crore as Titan stock falls nearly 10% post Q2 results

YES Bank share price opened almost 10% lower at Rs 59.95 on the BSE that day.

YES Bank shares, however, recovered from early losses to gain over 7% intraday to Rs 71.35 on the BSE after the lender on Friday said that it was holding talks with investors to infuse around $3 billion in the private sector lender.

On November 5 , YES Bank share price gained up to 8.77% to Rs 71.9  intra day after reports emerged reports emerged  that big bull Rakesh Jhunjhunwala bought nearly 1.3 crore shares of YES Bank for around Rs 87 crore through open market transactions. The midcap stock gained after two days of consecutive fall.

Also read: Investors' help may not be enough to revive Yes Bank's shrinking balance sheet