YES Bank will announce their Q3 results on March 14th
Yes Bank Q3 Results: Finally, the Yes Bank of India going to release its Q3 results ended in December. On Wednesday, the private bank said it will release its financial results on March 14, 2020. It is one of the largest private banks in India located in Mumbai. It provides services as a corporate bank, retail banking, and also asset management to its subsidiaries.
Whereas, the bank held a board meeting on Wednesday headed by SBI’s former CFO Prashant Kumar. In the meeting, they consider the unaudited financial reports for the quarter ended in December 31, 2019. Besides, the board officials discussed on SEBI’s Regulation Act, 2015 and Bank’s code of Conduct against the inside Trading.
The Bank also said the trading window for dealing in the securities of the bank will close for the persons and the persons who are connected with them till March 16, 2020. However, the bank deferred posting its Q3 results from the second week of February, while the quarter already ended in December. This results in a potential investor to withdraw their stakes to create a cash infusion.
Whereas, things are already changed within a month of period to Yes Bank. On March 5th Reserve Bank India (RBI) imposed a financial moratorium on Yes Bank for a 30-days period. It means Yes Bank depositors can withdraw limit up to Rs 50000 for a 30-days period. Whereas on Monday, the Enforcement Directorate arrested the co-founder Rana Kapoor under the money laundering act.
However, the bank on Wednesday really performed well in the stock market. It gained almost 37% on Wednesday after the new administrator appointed by RBI. The former CFO Mr. Prasant Kumar on Monday said we hope that RBI lifts the moratorium on Yes Bank by this week.
Yes Bank Share after new CEO Mr. Prasant Kumar:
The Yes Bank trading bullish trend in the stock market. It gained 7.80 points with a 36.71% increase and reached 29.05 INR. While in BSE, it gained 7.55 points with a 35.53% increase and reached 28.80 INR.
On the other side, both Sensex and Nifty closed its bullish trend after consecutive loss in the stock market. The Sensex gained 62.45 points with a 0.18% increase and reached 35,697.40 level. While Nifty gained 6.95 points with a 0.066% increase and 10,458.40 level.
Top gainers of today’s stock market are Yes Bank Ltd, Bharti Infratel, Zee Entertainment Ltd, Reliance Ltd, Hero Motocorp Ltd. On the other side, GAIL, BPCL, Tata Motors, Tata Steel, Indusind Bank are the top losers in today’s stock market.