YES Bank drops over 4% as shares worth ₹1,590 crore traded in large deal

YES Bank shares dropped more than 4% on Friday as more than 63.6 crore equity shares, or 2.2% of equity stake worth ₹1,590 crore, were traded in block deals.

YES Bank shares opened lower at ₹24.85. The stock touched a high of ₹25.85 before dropping 4.71% to hit a low of ₹24.25 per share on NSE. More than 81 crore shares of the bank changed hands on NSE on Friday.

More than 63.6 crore equity shares were traded in a large deal at a price of ₹25 per share, media reports stated.

Reports earlier claimed that private equity firm Carlyle Group was expected to divest part of its shareholding in YES Bank on Friday through block deals.

The Carlyle Group entity CA BASQUE INVESTMENTS held a total of 9.11% or 273.79 crore equity shares of YES Bank as of April 2024. Carlyle Group had picked a 9.99% stake in YES Bank in 2022. Goldman Sachs is reportedly the broker for the deal.

The PE firm in February 2024 sold around 39 crore equity shares, or around 1.35% stake, of YES Bank in large trade for around ₹1,057 crore. The shares were sold at a price of ₹27.10 per share on BSE.

YES Bank share performance

YES Bank shares have declined more than 1% in the past month. The shares are trading around 23% down from the 52-week high level of ₹32.85 hit on February 9, 2024.

The stock, however, is trading 61% higher than the 52-week low of ₹15.50 hit in May last year.

YES bank posts over two-fold jump in Q4 net profit

The private lender has reported a more than two-fold jump in net profit for the March quarter at ₹454 crore compared with ₹202.4 crore in the March quarter of FY23.

Its net interest income was up 2.3% at ₹2,153.1 crore in the last quarter of FY24 compared to ₹2,105.2 crore in the year-ago period.

YES Bank’s gross NPAs were down 11% at ₹3,982 crore in the March quarter of FY24 compared to ₹4,457.4 crore in the December quarter. Gross NPA stood at 1.7% in March quarter from 2% in the December quarter.