While, RBI's governor has assured swift resolution for Yes Bank, nonetheless with crisis at hand, some of your equity mutual funds with large exposure to crisis-ridden Yes Bank are sure to take a hit. Some of the analyst amid such a likely deterioration in the financial position of the bank has set a target price for the stock of Yes Bank at just Rs. 1 per share. Last the stock at 12:19 pm on March 6, 2020 has been trading at Rs. 15.35 per share, down Rs. 21.50 or 58.3%.
As per a report that sites data with Ace Mutual fund some of the AMCs including the likes of HDFC Asset Management CompanyNSE -4.41 %, SBI Funds Management, Kotak Mahindra Asset Management and Nippon Life India Asset Management have Yes Bank shares in the portfolio to the tune of between 1-5 crore as on January 31.
Others including Franklin Templeton Asset Management, UTI Asset Management, ICICI Prudential Asset Management and Quantum Asset Management also held between 20-92 lakh shares in their portfolios as of January 31, 2020.
On Thursday, in light of the grave financial situation of Yes Bank, the RBI superseded the former's board and placed restriction on both advances and withdrawal.
So, as per ACE Mutual Fund, following are the AMCs that have exposure to Yes Bank stock as of January, 2020.
1. HDFC AMC Ltd.
2. SBI Funds Management Private Limited
3. Kotak Mahindra AMC Ltd.
4. Nippon Life India AMC
5. Franklin Templeton Asset Management (India) Private
6. UTI AMC
7. ICICI Prudential AMC
8. Quantum Asset Management
9. JM Financial Asset Management
10. DSP Investment Managers Pvt. Ltd.
11. Aditya Birla Sun Life AMC etc.