Yes Bank sells 2.84% stake in Sical Logistics Ltd

2.84% sold in Sical Logistics Ltd: Yes Bank

Yes Bank

Yes Bank Ltd sold 1.66 million equity shares having a nominal value of Rs10 each comprising 2.84% of the settled up share capital of Sical Logistics in different tranches, it said in a filing to trade.

Sical is the logistics business of late VG Siddhartha’s Coffee Day group. As of 31 March, Yes Bank had 5.22% holdings in Sical Logistics.

Shares of Sical Logistics rose 9.95% to close at ₹12.15 on BSE and Yes Bank fell 0.54% to close at ₹27.60, while the benchmark index, Sensex increased 1.49% to close at 35430.43.

From the earliest starting point of the year, Sical Logistics lost 30.37% and Yes Bank lost 41.21% against a fall of 14.12% in the benchmark index, Sensex. From March lows, Sical Logistics picked up around multiple times and Yes Bank rose 9.31, while Sensex was up 24.03%.

On a combined premise, Sical Logistics revealed a net loss of ₹60.26 crores in Q3 December 2019 contrasted and net benefit of ₹5.16 crore in Q3 December 2018. Net sales fell 54.7% to ₹187.58 crores in Q3 December 2019 over ₹414.15 crores in Q3 December 2018.

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