Yes Bank Share Price: Significant Selling Pressure Witnessed
Yes Bank stock is currently experiencing significant selling pressure, following heavy buying in Friday’s trading session. The stock reached a price of Rs 18.85 with an upper circuit on Monday. Over the past two trading sessions, Yes Bank stock has generated a 15 percent return for its investors.
Outstanding Loans of Yes Bank Reduced by 75 Percent
According to experts at Profitmart Securities firm, Yes Bank shares rose last week on the news about Subhash Chandra and Jaisi Flower. However, on Tuesday, September 5, 2023, shares of Yes Bank closed at Rs 18.10, down 2.69 percent. The experts’ report reveals that the outstanding loans of Yes Bank have been reduced by 75 percent. As a result, Subhash Chandra will now have to pay arrears of Rs 1500 crore, instead of the previous Rs 6500 crore loan. However, he has been ordered to pay this amount in one go. Yes Bank has been facing a financial crisis for the past few years due to its inability to recover outstanding loans.
Positive Outlook for Yes Bank Shares
Choice Broking Firm experts believe that Yes Bank shares are showing positive signs on technical chart patterns. They predict that the stock may reach Rs 22 to Rs 24 in the near future. Currently, the shares are trading at a price of Rs 18.85. The experts advise placing a stop loss at Rs 16.50 when buying the stock.
Performance of Yes Bank Stock
Although stocks can rise quickly in the market, they can also decline just as rapidly. It is crucial to always control losses by setting a stop loss while investing. Yes Bank stock has not performed well in the past, with a gain of only 7.10 percent in the last six months. However, the share price of the bank has increased by 8.06 percent in the past year.
Important: Investing in mutual funds and the stock market carries inherent risks. It is advisable to consult with a financial advisor before making any investment decisions. AkhandIndia.com shall not be held liable for any financial losses incurred.
