State-owned Yes Bank sold 1.66 million of its equity shares having a nominal value of Rs10 a piece constituting 2.84 per cent of the paid-up share capital of Sical Logistics in several tranches, it said in a filing to exchange.
Sical Ltd. is a logistic business founded in the year 1955 by late VG Siddhartha’s Coffee Day group.
Yes Bank held 5.22 per cent of holdings in Sical Logistics, as recorded on 31 March.
Sical Logistics shares climbed up by 9.95 per cent to end at Rs. 12.15 on the Bombay Stock Exchange. While the shares of Yes Bank fell down by 0.54 per cent to finally close at Rs. 27.60. however, the benchmark index, Sensex jumped up by 1.49 per cent to finally close at 35430.43.
From the starting of the year, Sical Logistics lost 30.37 per cent and Yes Bank lost 41.21 per cent as compared to a fall of 14.12 per cent in the benchmark index, Sensex. From March lows, Sical Logistics acquired around three times and Yes Bank rose around 9.31, while Sensex surged up to 24.03 per cent.
On a merged basis, Sical Logistics recorded a total loss of Rs. 60.26 crore in the third quarter of December 2019 as against the net income of Rs. 5.16 crore in the third quarter of December 2018.Yes Bank The overall sales declined down by 54.7 per cent to R.187.58 crores in the third quarter of December 2019 over Rs. 414.15 crores in the third quarter of December 2018.