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YES Bank stock plunges 29% on weak Q4 results, rating downgrades

Analysts say earnings pain is clearly visible given concerns over stressed assets, weak provision cover and subdued capital

YES Bank
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Shreepad S AuteAbhijit Lele Mumbai
YES Bank’s March 2019 quarter results, announced last Friday after the market hours, gave a jolt to the Street on Tuesday. Given the bank’s first-ever quarterly loss, of more than Rs 1,500 crore, on the back of higher provisioning and management commentary, the scrip plunged over 29 per cent on Tuesday and topped the BSE’s losers’ list.
 
The stock market was shut on Monday on account of polling in Mumbai. The clearly-visible earnings pain ahead given asset quality issues and the new management’s conservativee approach weighed on investor sentiment. With a sharp 40-45 per cent cut in estimated earnings,

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First Published: Apr 30 2019 | 8:24 PM IST

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