Adani Electricity Mumbai sells shares worth Rs 202 cr in Yes bank

The bulk deal data available with NSE showed that Adani Electricity Mumbai sold 15 crore shares at an…
Adani Electricity Mumbai sells shares worth Rs 202 cr in Yes bank

Adani Electricity Mumbai Ltd on Thursday offloaded shares worth nearly Rs 202 crore in Yes Bank through open market transaction.

The bulk deal data available with NSE showed that Adani Electricity Mumbai sold 15 crore shares at an average price of ₹13.45 apiece, with the transaction value at ₹201.75 crore.

On Tuesday, Life Insurance Corp of India had said that it has bought additional shares of the lender through open market purchases.

Earlier this month, Moody’s Investors Service upgraded Yes Bank’s long-term foreign currency issuer rating by a notch from Caa1 to B3 after the private lender raised ₹15,000 crore in a follow-on public offer in July.

Yes Bank reported a 60% year-on-year decline in its standalone profit for the June quarter to ₹45 crore while net interest income declined 16.3% to ₹1,908 crore from ₹2,281 crore a year ago.

On Friday, shares of Yes Bank traded nearly 5% higher at ₹14.10 apiece on the NSE. Since the beginning of the year, the stock has lost 71% in value compared with an 8% decline in the benchmark Nifty.

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