Yes Bank shares face further downside risks after the Supreme Court overturned the lender's Rs 8,415-crore additional tier-1 (AT-1) bond write-off, prompting global brokerage Citi to cut its target price and warn of a substantial erosion in the bank's capital buffers. The brokerage has maintained its 'Sell' rating on Yes Bank stock and lowered its target price to Rs 17.50 per share from Rs 22 earlier.
The revised target implies a further downside of 3.4 percent from Thursday's closing price of Rs 18.12. Yes Bank shares had plunged 14.53 percent on October 15 following the Supreme Court's ruling, which upheld the Bombay High Court's decision to invalidate the AT-1 bond write-down carried out during the lender's restructuring in March 2020.
The stock has declined 15.7 percent so far in 2026, underperforming the Nifty 50, which has fallen 12 percent over the same period. Yes Bank's market capitalisation stood at Rs 56,877 crore at Thursday's close.
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Citi warned that the Supreme Court's decision could significantly weaken Yes Bank's capital position, as the lender may now have to recognise the Rs 8,415 crore worth of AT-1 bonds that were previously written off.