Supreme Court Sets Aside Yes Bank's Rs 8,415 Crore AT1 Bond Write-Off In Big Win For Bondholders
Yes Bank secured new business with May 20 in focus.
· NDTV Profit, LiveMint Markets, BS Companies
The ruling comes nearly five months after the apex court reserved its order on May 20, following arguments from the Centre, the Reserve Bank of India, Yes Bank and bondholders.
Key facts
- Dates in focus
- May 20
The analysis
Yes Bank reported Rs 8,415 Crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -14.1% on the day at ₹18.22, and has returned -9.8% over three months. It sits 28% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -3.5% over the same period, so Yes Bank is running 6.2 points behind its peers.
For Yes Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- With RBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The company directly in focus is YESBANK.
- Sector exposure: Banks.
In this story
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