YES Bank Ltd.

NSE: YESBANK | BSE: 532648 | ISIN: INE528G01027 |Industry: Banks
|Momentum Trap

YES Bank Ltd.    
16 Oct 2019
68.70
-0.07%
Promoter pledges soar, FII holdings fall at YES Bank

YES Bank, which has struggled with performance and asset quality in the past quarters, has seen a big shareholding shift in the September quarter, with FIIs selling a significant chunk of the bank's shares, and promoter pledges soaring. Promoter pledges have increased to 35.05% of their holdings, from 3.64% in June 2019. Number of FIIs holding YES Bank stock fell by 42, decreasing their holdings by 7.18% from 33.6% in June 2019. 

Promoter Rana Kapoor’s holding in the bank declined, and sales of shares in two family-owned entities, Yes Capital, (YCPL) and Morgan Credits (MCPL) meant that their combined stake fell to 0.8% from 6.29% in the June quarter. A lot changes in a year, clearly. Last September, Rana Kapoor had said "Diamonds are forever: My promoter shares of Yes Bank are invaluable to me."

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