India's Yes Bank falls more than 17% over two days after AT1 bond ruling

Yes Bank

16/10/2026 05:45

** Shares of Yes Bank YESB.NS fall 2.1% to 17.7 rupees
** Stock down 17.2% over two trading sessions
** India's Supreme Court upheld on October 15 a Bombay High Court ruling quashing write-off of 84 billion rupees ($884.47 million) worth of company's additional tier-1 bonds 
** Court holds write-off of AT1 bonds by Yes Bank's administrator illegal and arbitrary as it violated government's final reconstruction scheme, according to lawyer representing the bondholders
** Global ratings firm S&P says Yes Bank’s credit profile can withstand the ruling, which addresses procedural lapses in the write-down under the 2020 rescue
** Stock rated as "Sell" on average by 13 analysts; median PT at 21 rupees --LSEG-compiled data
** YTD, stock down 18.6%

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))