Yes Bank share price under pressure as Axis Bank, FPIs cut stake, Q4 results disappoint; falls 7.6% in Apr

Yes Bank share price under pressure as Axis Bank, FPIs cut stake, Q4 results disappoint; falls 7.6% in Apr

During the fourth quarter of FY 21, foreign portfolio investors (FPIs) also trimmed their stake in the private sector lender.

Yes Bank share price is under severe pressure, after heavyweight investors cut stake in the previous quarter, and the company posted disappointing fiscal fourth quarter results. Yes Bank stock fell 7.6 per cent in the month of April. It further tanked over 13 per cent intraday yesterday after reporting a net loss of Rs 3,787.75 crore in January-March 2021, against a profit of Rs 2,629 crore in the same period a year ago. Axis Bank, foreign portfolio investors (FPIs), and insurance companies cut their stakes in Yes Bank in the January-March quarter of FY 2020-21. Today, Yes Bank share price was trading nearly one per cent up at Rs 14.03 apiece on BSE in intraday deals.

Axis Bank sold 10.86 crore Yes Bank shares during the quarter. Axis Bank has cut its stake in Yes Bank to 1.96 per cent or 49.13 crore shares in March 2021 quarter, from 2.39 per cent or 60 crore shares in December 2020 quarter. State Bank of India (SBI), ICICI Bank, Bandhan Bank, and IDFC First Bank have kept their stake unchanged in Yes Bank, according to the shareholding pattern of the public shareholders. SBI continued to hold 30 per cent, ICICI Bank 3.99 per cent, IDFC First Bank 1.15 per cent and Bandhan Bank 1.20 per cent stake in Yes Bank.

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During the fourth quarter of FY 21, foreign portfolio investors (FPIs) also trimmed their stake in the private sector lender. FPIs held 344 crore shares or a 13.77 per cent stake in Yes Bank at the end of March quarter. FPIs sold out 3.12 crore shares of Yes Bank. They held 15.01 per cent stake or 376 crore shares of Yes Bank at the end of the December 2020 quarter. Similarly, insurance companies have reduced their stake to 5.57 per cent to 139 crore shares in January- March 2021, from 5.68 per cent or 142 crore shares during October-December 2020. While LIC (Life Insurance Corporation along with its scheme has kept their stake unchanged at 4.99 per cent or 125 crore.

Yes Bank’s deposits stood at Rs 1.63 lakh crore at the end of March, up 55 per cent on-year and 11 per cent sequentially. The current account savings account (CASA) ratio stood at 26.1 per cent in the fourth quarter of FY21, lower than 26.6 per cent a year ago. The bank’s net interest margin (NIM), a key measure of profitability, slid 180 basis points (bps) sequentially to 1.6 per cent.

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