Revealed! Why Yes Bank share price is soaring
Yes Bank share price is rising and rising! It rose to the tune of 3 per cent in the early morning trade and the private lender stock continued to remain a favourite among the bulls throughout the intraday trade session.
Yes Bank share price is rising and rising! It rose to the tune of 3 per cent in the early morning trade today inviting bulls for the fresh buying. After the closing bell yesterday, Yes Bank shares closed at Rs 15.80, near 5 per cent higher from its Tuesday close. According to the stock market experts, this rise in Yes Bank stock is because of the private lenders Rs 35,000 crore repayment to the Reserve Bank of India (RBI).
Speaking on the reason for rise in Yes Bank share rise to the tune of 5 per cent, Prakash Pandey, MD & CEO at Plutus Advisors said, "As per Yes Bank's 2019-20 annual report, the bank repaid Rs 35,000 crore to the central bank out of the total special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support. This has gone down well among the stock market traders and investors and they are putting money in Yes Bank stock after this newsbreak."
See Zee Business Live TV streaming below:
Yes Bank Chairman Sunil Mehta has said in the bank’s 2019-20 annual report that in addition to the SLF of Rs 50,000 crore extended by RBI, the bank has since then received strong customer liquidity inflows. He said that the bank has, as of date, repaid Rs 35,000 crore of SLF. The balance will be repaid within the timelines set by RBI.
Mehta went on to add that Yes Bank has made significant progress. The bank successfully raised equity funding of Rs 15,000 crore through a follow‑on public offering (FPO) within four months of the restructuring scheme, amid challenging market conditions, towards the end of July, which demonstrates the strong confidence of institutional and retail investors in the bank’s restructuring plan, action taken, future roadmap and professional leadership.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
09:49 AM IST