Yes Bank Share Price Soars by 12% to Rs. 23.40 on Thursday
š In Thursday’s trading session, Yes Bank’s share price surged by 12% to reach Rs. 23.40. The bank’s total market capitalization stands at Rs. 67,460 crores. The 52-week high for Yes Bank’s share was Rs. 32.85 while the low was Rs. 14.50.
Impressive Returns for Investors in the Past Six Months
š° Over the past six months, Yes Bank’s shares have provided a return of 28% to its investors. In the last year, the share price has seen an increase of 53%. The main reason for the rise in Yes Bank’s share price is the ongoing search for new promoters.
Recent Performance and Investor Interest
š On Friday, 15th March 2024, Yes Bank’s share price closed at Rs. 23.80, up by 1.49%. However, on Monday (18th March 2024), the share was trading at Rs. 23.40, a decrease of 1.55%. Experts suggest that discussions are underway regarding investment in Yes Bank by various financial institutions.
Potential Stake Sale and Future Prospects
š¼ Yes Bank is looking to raise funds by selling a 51% stake to financial institutions and investors from Japan, West Asia, and Europe. The bank, currently the sixth largest private sector bank in India, could sell its 51% stake for a total valuation of $8-9 billion.
Regulatory Requirements and Investor Restrictions
š« As per RBI regulations, investors must seek approval from the Reserve Bank of India before holding more than 26% stake in any Indian bank. If new promoters enter Yes Bank, existing investors like State Bank of India, LIC, HDFC Bank, and ICICI Bank may exit their investments.
Collaboration and Support during Financial Crisis
š¤ During the financial crisis in 2020, some of India’s largest banks came together to invest in Yes Bank to prevent its collapse. Currently, State Bank of India holds a 29% stake in Yes Bank.
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.
