Yes Bank declines in volatile trade

Yes Bank fell 0.35% to Rs 819.40 at 10:38 IST on BSE, with the stock dropping amid volatility after the bank said that its shareholders approved all the 12 resolutions of its board of directors at its Annual General Meeting held on 6 June 2015.

The announcement was made before market hours today, 8 June 2015.

Meanwhile, the S&P BSE Sensex was down 117.93 points or 0.44% at 26,650.56.

On BSE, so far 70,000 shares were traded in the counter as against average daily volume of 3.51 lakh shares in the past one quarter.

The stock was volatile. The stock fell as much as 0.75% at the day's low of Rs 816.10 so far during the day. The stock rose as much as 0.86% at the day's high of Rs 829.40 so far during the day. The stock had hit a record high of Rs 910 on 4 March 2015. The stock had hit a 52-week low of Rs 502.20 on 14 July 2014.

The stock had underperformed the market over the past one month till 5 June 2015, sliding 4.09% compared with Sensex's 2.45% fall. The scrip had, however, outperformed the market in past one quarter, declining 4.02% as against Sensex's 9.1% fall.

The large-cap private bank has equity capital of Rs 418.04 crore. Face value per share is Rs 10.

Yes Bank said that its shareholders have approved all the 12 resolutions of its board of directors at its Annual General Meeting (AGM) held on 6 June 2015. Among key resolutions, the shareholders approved re-appointment of Mr Rana Kapoor as MD & CEO of the bank for a period of 3 years.

Further, the shareholders approved through special resolution to raise fresh equity aggregating to $1 billion. They have also approved the issuance of non-convertible debentures and bonds upto a total amount of Rs 10000 crore. The shareholders also approved through special resolution, the increase in the borrowing limits of the bank to Rs 50000 crore, from the existing limits of Rs 30000 crore. The shareholders also approved the resolution for raising the combined foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) investment limits to 74% of the paid-up capital of the bank.

Yes Bank's net profit rose 28.1% to Rs 550.99 crore on 22.1% growth in total income to Rs 3678.83 crore in Q4 March 2015 over Q4 March 2014.

Yes Bank is one of the leading private sector banks in India.

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