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Here are a few mutual funds that stocked up on YES Bank in Q4FY19

YES Bank
Shares of YES Bank tanked 30 per cent in trade on Tuesday, after the bank reported a massive Rs 1,507 crore loss in the fourth quarter of financial year 2018-19 (Q4FY19). The numbers were released post market hours on Friday.

The results saw most brokerages downgrade the stock to ‘sell’, setting the 12-month price target lower by as much as 40 per cent from Friday’s close. Most also scaled back their earnings growth forecasts by up to 45 per cent for FY20 and also FY21. Large stressed pool, aggressive accounting practices and weakness in the retail franchise are among the reasons cited by analysts for their bearish stance.

However, some mutual funds who already held the stock in their funds / scheme / portfolio had increased their stake in the bank in the recently concluded quarter (March 2019), data mined from ACE Equity show. 

Sundaram Mutual that added tops this list with an addition of 34,47,645 shares during the period under review, a whooping increase of 16,735 per cent over the December 2018 quarter, data show. Principal Mutual Fund and Taurus Mutual Fund are the other two fund houses that stocked up on YES Bank and increased their holding by a huge 7,001 per cent and 1,196 per cent, respectively.

Sundaram Mutual and Taurus Mutual, however, exited a bulk of its position at a profit before YES Bank announced its March 2019 quarter numbers last week, their officials clarified.

Fund Name Number of shares
  Mar-19 Dec-18 Change %Change
Sundaram Mutual Fund 3468247 20602 3447645 16734.52
Principal Mutual Fund 2051247 28885 2022362 7001.43
Taurus Mutual Fund 40591 3133 37458 1195.60
IDBI Mutual Fund 1337111 895525 441586 49.31
ICICI Prudential Mutual Fund 13206990 9893452 3313538 33.49
Baroda Mutual Fund 1273500 1005500 268000 26.65
Quantum Mutual Fund 1231671 1066007 165664 15.54
SBI Mutual Fund 36962570 33817087 3145483 9.30
UTI Mutual Fund 37362815 34183511 3179304 9.30
HDFC Mutual Fund 24392519 22819153 1573366 6.89
Mirae Asset Mutual Fund 359466 359369 97 0.03
Motilal Oswal Mutual Fund 8211 8210 1 0.01
LIC Mutual Fund 521331 526089 -4758 -0.90
Franklin Templeton MF 32796036 33156027 -359991 -1.09
Indiabulls Mutual Fund 339500 390250 -50750 -13.00
DSP Mutual Fund 1536957 1876729 -339772 -18.10
IDFC Mutual Fund 2605687 3235216 -629529 -19.46
BNP Paribas Mutual Fund 194250 245000 -50750 -20.71
Reliance Nippon Mutual Fund 18606015 23749885 -5143870 -21.66
Axis Mutual Fund 4159150 5781423 -1622273 -28.06
Aditya Birla Sun Life MF 10255030 14313756 -4058726 -28.36
Kotak Mahindra Mutual Fund 21720542 32274769 -10554227 -32.70
Tata Mutual Fund 93982 183778 -89796 -48.86
PPFAS Mutual Fund 810250 1727250 -917000 -53.09
BOI AXA Mutual Fund 133000 290500 -157500 -54.22
Invesco Mutual Fund 401562 1325564 -924002 -69.71
JM Financial Mutual Fund 1107455 10415362 -9307907 -89.37
Edelweiss Mutual Fund 109399 1895879 -1786480 -94.23
Essel Mutual Fund -- 31500 -- -100.00
DHFL Pramerica Mutual Fund -- 337750 -- -100.00
Data Source: ACE Equity        

Disclaimer: The data is for the fourth quarter of financial year 2018 - 19 (Q4FY19). Some, or all, mutual funds may have exited their position / sold their holding in YES Bank before the company announced its financial results for Q4FY19.




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