Introduction:
Yes Bank shares have been performing tremendously for the past few days. The company’s shares had strengthened by three percent in the previous week. Today, the stock is growing tremendously, rising 5.14 percent to Rs 17.58 from Rs 16.70 in intra-day trade. This boom in the shares of Yes Bank can be attributed to the verdict of the case against Subhash Chandra. According to the verdict, Yes Bank’s asset restructuring unit JC Flowers ARC and Subhash Chandra have entered into an agreement to settle outstanding loans of Rs 6500 crore. Currently, Yes Bank shares are trading at Rs 18.70, up 7.78 percent.
Yes Bank shares earn 20 percent returns in the last 6 months:
Yes Bank shares have earned 20 percent returns to its investors in the last 6 months. Last year on December 14, 2022, the stock was trading at its annual high of Rs 24.75. However, it fell 42 percent to Rs 14.40. In just 6 months, Yes Bank share has seen a 20 percent improvement.
Technical analysis of Yes Bank shares:
According to experts at Indian brokerage firm ICICI Securities, Yes Bank shares are looking strong on technical charts. The stock is trading on 20-day, 50-day, 100-day, and 200-day exponential moving average price. However, the stock is seeing strong resistance at Rs 17.7, Rs 18.1, and Rs 18.6. On the downside, Yes Bank’s stock is seeing strong support at Rs 16.8, Rs 16.3, and Rs 15.9.
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