Yes Bank lost 7.79% to Rs 149.10 at 10:45 IST on BSE after two rating agencies announced downgrade in the bank's ratings.
The announcement was made after market hours yesterday, 28 November 2018.Meanwhile, the S&P BSE Sensex was up 376.16 points, or 1.05% to 36,093.11
On the BSE, 76.92 lakh shares were traded in the counter so far compared with average daily volumes of 67.97 lakh shares in the past two weeks. The stock had hit a high of Rs 158.70 so far during the day. The stock hit a 52-week low of Rs 148.80 in intraday trade today, 29 November 2018. The stock hit a 52-week high of Rs 404 on 20 August 2018.
Rating agency ICRA downgraded Yes Bank's domestic long term ratings of Senior Debt Instruments to ICRA AA from ICRA AA +and Subordinate Debt Instruments to ICRA AA- from ICRA AA. The ratings remain on watch with negative implications.
CARE Ratings downgraded the bank's domestic ratings of Senior Debt Instruments to CARE AA +from CARE AAA and Subordinate Debt Instruments to CARE AA from CARE AA+. The ratings remain on credit watch with developing implications.
Yes Bank after market hours on 27 November 2018 said that the bank's foreign currency issuer ratings have been downgraded to Ba1 from Baa3 by Moody's Investors Service. The outlook, where applicable, was changed to negative from stable. At the same time, Moody's has affirmed the bank's counterparty risk assessment (CR Assessment) of Baa3(cr)/ P-3(cr) and domestic and foreign currency counterparty risk rating (CRR) of Baa3/ P-3.
Yes Bank's net profit fell 3.79% to Rs 964.70 crore on 43.91% rise in total income to Rs 8704.68 crore in Q2 September 2018 over Q2 September 2017.
Yes Bank is India's fourth largest private sector bank with a pan India presence across all 29 states and 7 Union Territories of India.
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