In the December quarter of FY 2020-21, bad loans of 17 government and private banks in the country were more than Rs 7 lakh crore on the proforma basis. The non-performing assets (NPA) of 6 government banks were Rs 5.12 lakh crore and the NPAs of 11 private banks were Rs 1.88 lakh crore, with Yes Bank (YES Bank) holding over Rs 8000 crore. Its effect is now visible on the stocks of YES Bank. YES Bank stocks have fallen nearly 4% in the last two days. Today, Yes Bank shares lost 1.50% to close at Rs 16.40, while on Tuesday its shares were down 2.05% to close at Rs 16.70.
YES Bank shares opened today at Rs 16.65 and reached an intraday high of Rs 16.80. Let us tell you that Yes Bank shares have broken more than 9% in a month. While the prices of the company’s stocks have fallen by 57% in 1 year. The company has seen a high of Rs 87.95 in the last 52 weeks, while a low of Rs 5.55. However, the company’s stock has gained 0.31% this week. Yes Bank stocks are trading above the 100-day moving average, but are still below the 5-day, 20-day, 50-day and 200-day moving average.
Yes Bank’s m-cap reduced by Rs 1253 crore today
Yes, the market capital (m-cap) of the bank fell to Rs 40,964.77 crore due to the decline in Yes Bank stocks today, which was Rs 42,217.52 crore on Tuesday. That is, today the m-cap of the bank has decreased by about 1253 crores. Let us tell you that due to the unwarrantable risk reward ratio, higher valuation and lower return ratio, the breakage firms Imke Global Research (Emkay Research) and ICICI Direct (ICICI Direct) had dropped the ratings of Yes Bank to Sell. Where Emkay Research reduced its target price to Rs 11. At the same time, ICICI Direct set its target price at Rs 16.