Yes Bank shares extend Monday rally. Rises 12% in two days | Mint
Active Stocks
Mon Feb 26 2024 15:59:59
  1. Tata Steel share price
  2. 142.60 -1.99%
  1. Power Grid Corporation Of India share price
  2. 287.75 1.97%
  1. HDFC Bank share price
  2. 1,422.25 0.10%
  1. ITC share price
  2. 409.20 -0.58%
  1. State Bank Of India share price
  2. 759.00 -0.05%
Business News/ Markets / Stock Markets/  Yes Bank shares extend Monday rally. Rises 12% in two days
BackBack

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

Yes Bank shares are rising after the private lender informed Indian exchanges about receipt of ₹120 crore from sale of NPA portfolio to JC Flowers ARC, say experts. (MINT)Premium
Yes Bank shares are rising after the private lender informed Indian exchanges about receipt of 120 crore from sale of NPA portfolio to JC Flowers ARC, say experts. (MINT)

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."

Gold rate today jumps as soft US inflation data pulls down US dollar index

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."

Natco Pharma share price jumps 9% after Q2 results, dividend

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Nov 2023, 09:44 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App