Yes Bank shares extend Monday rally. Rises 12% in two days
- Stock market today: Yes Bank shares today opened upside and went on to hit intraday high of ₹20.60 per share levels on NSE
Stock market today: Extending its rally for second day in a row, Yes Bank share price today opened with an upside gap at ₹19.65 per share levels on NSE. Within few minutes of opening bell today, Yes Bank shares went on to hit intraday high of ₹20.60 per share levels, registering over 12 per cent rise in two days.
Yes Bank share price ended at ₹18.30 apiece levels on NSE on Friday. On Monday, Yes Bank shares opened flat but in second half it witnessed sharp upside movement and finally ended near 6 per cent higher from its previous close of ₹18.30 per share.
According to stock market experts, Yes Bank share price is rising due to positive developments in regard to NPA portfolio. Market experts said that Yes Bank has Informed Indian exchanges that it has received ₹120 crore from sale of NPA portfolio to JC Flowers ARC.
Yes Bank share news
On reason that has fueled Yes Bank share price today, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Yes Bank share price rising today as the private lender has informed Indian stock market exchanges about receipt of redemption amount from sale of NPA portfolio to JC Flowers ARC. The private bank had informed about the development in December last year, but it has now informed about receipt of ₹120 crore from that NPA portfolio sale."
Yes Bank share price target
Predicting further upside in Yes Bank shares, Sumeet Bagadia, Executive Director at Choice Broking said, “Yes Bank shares are currently in ₹18.50 to ₹22 per share range. On breaching the upper hurdle on closing basis, Yes Bank share price may go up to ₹25 per share levels in near term. Those who have Yes Bank shares in portfolio can hold the stock further maintaining stop loss at ₹18 per share levels.”
Advising buy on dips strategy to fresh investors, Sumeet Bagadia said, “Those who want to make fresh investment in Yes Bank shares, they are advised to maintain buy on dips strategy till Yes Bank shares are above ₹18.30 levels.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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