LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Assembly Election results: This bank makes you rich today, as it gains by 8% on BSE; Did you invest?

Yes  Bank is trading at Rs 172.30, up by Rs 6.95 or 4.20%, on the BSE at around 1112 hours. The bank, however, has touched an intraday high of Rs 173.50 which resulted in  overall  surge of 4.92% so far.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Assembly Election results: This bank makes you rich today, as it gains by 8% on BSE; Did you invest?
Yes Bank, which has witnessed so much of ups and downs in previous months, seems to have become the only resort of investors as they continued to have a buying sentiment, Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Tue, Dec 11, 2018
03:22 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Yes Bank Share price: This is what Choice Broking highlights Yes Bank Share price: This is what Choice Broking highlights
BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year
Yes Bank Share price - Anand Rathi maintains Sell rating with price target of Rs 14 Yes Bank Share price - Anand Rathi maintains Sell rating with price target of Rs 14
Yes Bank target price cut to Rs 14, SBI target Rs 470; what investors must do now Yes Bank target price cut to Rs 14, SBI target Rs 470; what investors must do now
Yes Bank Share price today: Investec cuts target price to Rs 19 Yes Bank Share price today: Investec cuts target price to Rs 19

Sentiments in Indian Market were revolving around Urjit Patel decision to quit as the Governor of the Reserve Bank of India (RBI) along with the assembly poll results in five states, which will be announced today by 1730 hours. 

Even as the major stocks went low today, there was one stock that will make you rich quite impressively is Yes Bank, which is the top gainer on Indices. Yes Bank, which has witnessed so much of ups and downs in previous months, seems to have become the only resort of investors as they continued to have a buying sentiment.

Yes Bank is trading at Rs 178.75, up by Rs 13.40 or 8.10%, on the BSE at around 1520 hours. The bank, however, has touched an intraday high of Rs 179 which resulted in overall surge of 8.25% so far.

There seems to be no concrete ground as to why Yes Bank shares have risen today. Currently, the bank needs new CEO and MD as their chief Rana Kapoor will be exiting from his position by end of January 2019, something that can be blamed to RBI.

As per reports of Macquarie, the corporate governance issue at Yes Bank have pulled the stock down ~50% in the last three months vs a relatively flat market. Having said that we now assess what could really be the worst case scenario for Yes Bank.

The worst case fair value for YES bank could be Rs 140-160, which assumes a gross NPL ratio of 7-10% and a fair value multiple of 1.4x. This implies there is a very limited downside from current levels.

However, it all now depends on two key events – appointment of new CEO and divergence report. Confidence can be expected to return only if the new CEO is of credible pedigree and has a good track record. Getting the divergences down to minimum is very essential for a market to get back some confidence in the stock. Capital raising in the wake of these events will be an added trigger.

Watch Zee Business Tweet video here:

#ZBizHeadlines | इस वक्त की सुर्खियां
- मध्यप्रदेश और छत्तीसगढ़ में लग सकता है बीजेपी को झटका
- बाज़ार में निचले स्तर से शानदार रिकवरी pic.twitter.com/bDcUCQsb5E

— Zee Business (@ZeeBusiness) December 11, 2018

The report also says that the search committee is meeting on the 12th December to finalize the name of candidates, while a board meeting on 13th December to consider the appointment of new board members, including the Chairman and possibly freezing a list of candidates for CEO position.

The shortlisted candidates will be sent to RBI for approval. It is expected that RBI will approve the new CEO, and the divergence report for FY18 too will be released somewhere in January 2019.

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.

TAGS:
Yes BankYes Bank share priceBSE SensexIndian market
RELATED NEWS
Yes Bank Share price: This is what Choice Broking highlights Yes Bank Share price: This is what Choice Broking highlights
BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year
Yes Bank Share price - Anand Rathi maintains Sell rating with price target of Rs 14 Yes Bank Share price - Anand Rathi maintains Sell rating with price target of Rs 14
Yes Bank target price cut to Rs 14, SBI target Rs 470; what investors must do now Yes Bank target price cut to Rs 14, SBI target Rs 470; what investors must do now
Yes Bank Share price today: Investec cuts target price to Rs 19 Yes Bank Share price today: Investec cuts target price to Rs 19

LATEST NEWS

Salaar Movie Prabhas: Release Date, Cast, Poster, Heroine - Confirmed! Another blockbuster from KGF makers?

Successful! Indian rocket PSLV puts Brazil's Amazonia-1 satellite into orbit

Homebuyers alert! Avoid real estate troubles by knowing these top 5 things before buying flat in 2021

Websites of traditional media houses to come under the ambit of section 69(A) of IT Act: Report

New Inbase smartwatch Urban LYF is here - Check features, offers, promo code and more

REVEALED! This is the most preferred financial product to protect family post-COVID 19 pandemic

Mann Ki Baat Latest Episode: What all PM Narendra Modi said in his popular radio programme today - Know here

Historic moment! New era of space reforms in India! PM Narendra Modi hails 1st dedicated commercial launch of PSLV-C51/Amazonia-1 Mission

Big insurance offers! 80-100 per cent discounts - All you need to know about renewal of health policies

Apple, Croma join hands on Steve Jobs' birth anniversary

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved