It is very devastating news for the yes bank investors; the trading has been low for the fifth straight season. Yes, Bank recently shared the details about to its share and fans are devastated to see the extreme downfall for the fifth season again. The session was conducted the last Friday after which we voted a variety of reactions from the people. Some were even confused about what exactly happened. However, we are here to explain you all the details about it.
The Extreme Downfall
On Friday, Yea bank released some official trading-related data. Earlier YES Bank gave the numbers which showed that the price hit intraday by approximately Rs 12.60. After which the bank claimed that the price was then but up to Rs 12.31 with a 0.64% downfall. Later with which it came up to 12.39. Yes, Bank claimed that they are struggling with the worst after their company is in curing loss since five straight seasons.
If we talk about the percentage downfall since the start of the year, the numbers are insane. In last month a 5% downfall was noted after which this month a 10% downfall was seen. And if we see from the start go the year overall, it has been a 73% downfall. And that is not just a small number. The company has incurred extreme losses along with the investors and company members. The banks trading is lower than five crores right now. Which is worth the company has ever incurred.
The Next Session
In today’s session, the company talked about more figures. The market capitalisation of the lender stood at Rs 31,043 crores were announced today. And there has been a lot of consequences of the same as well. It incurred its first loss in the first few months if 2020. However, that was considered normal as every company faces that. However, after two more downfalls, the company claimed that it is due to the covid 19 pandemic and it was pretty evident for any big company to face that. But after the 5th straight session of extreme loss, the people and investors are going crazy behind the insane numbers.
However, the shares of private lenders were falling since yesterday. After which, Swaminathan Janakiraman, the nominee director appointed by State Bank of India, has resigned with effect from October 28, 2020. According to him, the country may insure a few more losses considering the current scenario. But it will be a big problem for the company. And hence the officials are trying to find the best solutions for us.
Earlier this week, we saw a variety of changes in the investor’s graph. Firstly an increase in profit was a show, but by the end of the week, things got even worse. But guess who might suffer the most because of it. It the Ambani. Anil Ambani is the biggest investor in the Yes Bank. Not like they would care a lot about the money. However, currently, he is incurring the most loss. And the company is just trying to win the company some profits; however, it is failing for now.
On average, the company grows 3.4% a year; however, since the pandemic this year, the company has incurred a 9.5% loss in its interest income. However, fans and the investors are hoping for it to win profit by the next session. Until then, let us know what do you think about it?