Shares of Yes Bank climbed as much as 29 percent intraday on March 5, while those of SBI fell nearly 5 percent
Following the report, shares of YES Bank climbed as much as 29 percent intraday on March 5, while those of SBI fell nearly 5 percent. However, the scrip was able to recover losses and ended the day with gains of over a percent.
A fresh investment in Yes bank by SBI at Rs. 2 per share for Rs. 490 cr. will do nothing for the bank's solvency metrics.
The bad debt is in the multiple thousands of crores, and the book value needs to be substantially higher than current— Deepak Shenoy (@deepakshenoy) March 5, 2020
Sbi buying out Yes Bank is a great move by the government even though it might cost them 20-30k crores of NPA’s but a bank going down would have costed the economy 20-30x more! Well done GOI— Amit Jeswani (@Amit_Jeswani1) March 5, 2020
SBI is paying twice the fair value for yes bank
— Contrarian (@contrarianEPS) March 5, 2020
Yes Bank's journey from Microsoft to SBI is like a bachelor's journey from Tinder to Jeevansaathi, ultimately arranged by parents.— Abhishek Murarka (@abhymurarka) March 5, 2020
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