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Yes Bank share price jumps nearly 8% on fundraising plans

The share touched a 52-week high of Rs 31.95 and a 52-week low of Rs 11.10 on 8 June, 2020 and 28 July, 2020, respectively.

June 07, 2021 / 01:37 PM IST
 
 
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Yes Bank share price jumped nearly 8 percent intraday on June 7 after the lender said it is going to consider fundraising via debt on June 10.

"A meeting of the Board of Directors of Yes Bank will be held on Thursday, June 10, 2021 to consider and approve, seek shareholders’ approval for borrowing/raising funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN)," Yes Bank said in a press release.

The private sector lender reported a higher-than-expected loss of Rs 3,787.75 crore for the quarter ended March 2021. The loss in the year-ago quarter stood at Rs 3,668.33 crore.

Net interest income, the difference between interest earned and interest expended, plunged 22.5 percent to Rs 986.7 crore during the quarter under review as compared to Rs 1,273.70 crore in the year-ago quarter.

Advances for the quarter at Rs 1.66 lakh crore declined 2.7 percent year-on-year (YoY), with net interest margin falling 30 bps YoY (down 180 bps QoQ) to 1.6 percent in Q4FY21,

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Deposits grew significantly by 54.7 percent YoY to Rs 1.62 lakh crore during the quarter ended March 2021.

At 13:18 hrs, Yes Bank was quoting at Rs 14.52, up Rs 0.79, or 5.75 percent on the BSE.

The share touched a 52-week high of Rs 31.95 and a 52-week low of Rs 11.10 on 8 June, 2020 and 28 July, 2020, respectively.

Currently, it is trading 54.55 percent below its 52-week high and 30.81 percent above its 52-week low.
Moneycontrol News
first published: Jun 7, 2021 01:37 pm

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