Yes Bank Share Price 3 January 2024: 💥
Yes Bank, one of the prominent banking shares in India, has witnessed a remarkable surge in its share price in the recent trading sessions. On Tuesday, January 3, 2024, the share price of Yes Bank soared by 1.59%, trading at ₹23.6 per share. This comes after a consecutive rise in the share price in the previous trading sessions.
The bank had previously informed the Securities and Exchange Board of India (SEBI) on December 31, 2023, that it had received ₹150 crore in its security receipt portfolio. Additionally, Yes Bank had also received a considerable amount of ₹48,000 crore from the sale of non-performing assets (NPA) to JC Flowers ARC, a debt restructuring company, in December 2022.
As of now, Yes Bank’s market capitalization stands at ₹65,000 crore, with JC Flowers ARC holding a 9.9% stake in the bank. It is worth mentioning that Yes Bank had initially acquired a 9.9% stake in JC Flowers ARC in November 2022. However, due to certain corporate actions, the shareholding ratio in JC Flowers ARC later decreased to 5.01% for Yes Bank.
Looking ahead, technical analyst Prakash Gaba predicts that the base for Yes Bank’s share price is at ₹21, with a potential downside if the price falls below ₹29. On the other hand, if the share price surpasses ₹100, it is expected to embark on a new journey. However, considering long-term investments, it is advisable to hold the stock.
In Short, Yes Bank has shown significant growth in its share price recently, with positive developments in its security receipt portfolio and NPA sale. Investors are advised to closely monitor the stock and consider long-term investment strategies. 💰📈🏦
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
