Yes Bank lost 3.27% to Rs 474.10 at 14:03 IST on BSE, with the stock extending Monday's 2.57% slide triggered by concerns of the ongoing feud between the promoters of the bank.
Meanwhile, the S&P BSE Sensex was down 206.61 points or 1.06% at 19,234.46.
On BSE, 1.95 lakh shares were traded in the counter as against average daily volume of 2.46 lakh shares in the past one quarter.
The stock hit a high of Rs 488 and a low of Rs 466.70 so far during the day. The stock had hit a 52-week low of Rs 318.35 on 19 June 2012. The stock had hit a record high of Rs 547.15 on 20 May 2013.
The stock had underperformed the market over the past one month till 10 June 2013, declining 3.72% compared with the Sensex's 3.19% slide. The scrip had, however, outperformed the market in past one quarter, rising 0.82% as against Sensex's 1.23% slide.
The large-cap private sector bank has equity capital of Rs 359.29 crore. Face value per share is Rs 10.
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Shares of Yes Bank have declined 5.76% in two trading sessions from Rs 503.10 on 7 June 2013. The stock had fallen 2.57% to settle at Rs 490.15 on Monday, 10 June 2013.
The battle between the two promoters of Yes Bank, the Kapur family and Rana Kapoor, the current MD of Yes Bank, continued at the bank's annual general meeting (AGM) held on Saturday, 8 June 2013, with the Kapur family and a section of shareholders opposing the resolution to elect three directors viz. Mr. Diwan Arun Nanda, Mr. Ravish Chopra and Mr. M. R. Srinivasan, proposed by the present management led by Rana Kapoor.
The family feud broke out in 2009 after the Yes Bank board turned down Madhu Kapur's request to induct her daughter Shagun Kapur Gogia as a director on the grounds that she did not meet the "fit and proper" criteria laid down by the Reserve Bank of India. Madhu Kapur is the wife of Ashok Kapur who passed away in the 26/11 terror attacks in Mumbai after which his stake was transferred to his wife.
The Bombay High Court on Monday, 10 June 2013, directed Yes Bank to prepone its board meeting to 1 July 2013 instead of 24 July 2013 and consider the appointment of Shagun Kapur Gogia as the director on the board. The court has scheduled next hearing on the matter on 1 July 2013.
Meanwhile, Yes Bank at its ninth AGM held on Saturday, 8 June 2013, approved the resolution to raise $500 million incremental capital or its Indian rupee equivalent during the current year. Mr. Rana Kapoor, MD & CEO of Yes Bank said that the bank would aim to raise the capital during the current year, potentially through GDRs, in combination with a QIP and domestic institutional investors (DII), in order to ensure fullest and widest participation of all investor classes. This would be in accordance with the bank's financial strategy to broad base and diversity its capital sources across all investor classes and deepen the shareholder register, Yes Bank said.
Yes Bank's net profit jumped 33.24% to Rs 362.15 crore on 30.01% growth in total income to Rs 2667.03 crore in Q4 March 2013 over Q4 March 2012.
Yes Bank is one of the leading private sector banks. The bank's total branch network stood at 430 as on 31 March 2013. The bank has 951 ATMs as at 31 March 2013.
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