Yes Bank Extends Drop to 19%; Heads for Lowest Since Sept 2013

(Bloomberg) -- Yes Bank heads for lowest level in nearly six years as shares extend decline to as much as 18.7% in Mumbai.

• Worst performer on Sensex, Nifty indexes
• Trading in co.s’ call options was double the average; trading volume was double the average for this time of day
• The Sensex fell 1.6%, while the MSCI AC Asia Pacific Index lost 0.4%

Market Metrics

• Trading in call options totaled 60,605 contracts, compared with average of 28,603 over the past 20 days; trading in put options totaled 40,578 contracts, compared with average of 16,051 over the same period
• One-month implied volatility was 124%
• The relative strength index on the stock was below 30, indicating it may be oversold.
• Of shares that were traded, 46% were at the ask price and 42% were at the bid.

Market Insights

• In the past year, the stock had a similar or greater loss four times at the close; it advanced in the next trading session once (3.4%) and declined three times (1.6%, on average).
• Stock declined 85% in the past 52 weeks. The Sensex lost 4.7%
• The shares are down 24% in the past 5 days and fell 37% in the past 30 days.
• The company’s dividend yield is 3.5% on a trailing 12-month basis.
• The analyst consensus one-year price target for co. is 97.43 rupees, for a potential return of 69%; analysts lowered the target by 53% in the past three months

To contact the reporter on this story: Ashutosh Joshi in Mumbai at ajoshi86@bloomberg.net

To contact the editor responsible for this story: Pradeep Kurup at pkurup3@bloomberg.net

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