Latest news with #YESBankLimited
Mint
02-06-2025
- Business
- Mint
Why is Yes Bank share price skyrocketing? EXPLAINED
Yes Bank share price rallied sharply on Monday, June 2, gaining over 8% during intraday trade and extending their upward momentum for a third consecutive session. Yes Bank shares climbed as much as 8.61% to ₹ 23.32 apiece on the BSE. The recent uptrend in Yes Bank share price comes ahead of a crucial board meeting scheduled for Tuesday, June 3, 2025. The private lender's board of directors will consider proposals to raise capital through the issuance of equity shares or debt securities, potentially via private placement or preferential allotment, subject to requisite approvals '...this is to inform that the meeting of the Board of Directors of YES Bank Limited is scheduled to be held on Tuesday, June 03, 2025, inter alia, to consider raising of funds by way of issuance of equity shares, debt securities and/or any other eligible securities (convertible/non-convertible) through permissible modes, including but not limited to a private placement, preferential issue or any other method or combination of methods, subject to such approvals as may be required,' Yes Bank announced in a regulatory filing on May 28. Yes Bank also notified that its trading window for designated persons and insiders will remain closed from May 29 until two days after the outcome of the board meeting is disclosed to the stock exchanges. Investor sentiment has also been buoyed by the recent announcement that Japan's Sumitomo Mitsui Banking Corporation (SMBC) plans to acquire a 20% stake in Yes Bank from the State Bank of India-led consortium. The Yes Bank-SMBC deal, valued at ₹ 13,483 crore, marks the largest cross-border investment in India's banking sector. Upon completion, SMBC will become the single largest shareholder of the private lender. The strategic investment comes five years after Yes Bank was rescued by a consortium of domestic banks led by SBI. Yes Bank share price has witnessed a strong rally, gaining over 30% in the past month and rising 18% on a year-to-date (YTD) basis. The stock has advanced 15% over the last six months and remained flat over the past year. However, on a two-year basis, Yes Bank stock price has appreciated by 41%. Kunal Kamble, Senior Technical Research Analyst at Bonanza Portfolio, noted that Yes Bank share price has broken out of a Pennant Pattern on the charts, indicating a continuation of the ongoing bullish trend. 'Yes Bank share price is trading comfortably above its major EMAs, reinforcing the bullish bias. An increase in volume supports the view that buyers are actively participating at current levels. Additionally, the RSI is trending in the higher range, indicating sustained strength in momentum. Overall, the technical structure remains positive,' Kamble said. He recommends buying Yes Bank shares on dips near ₹ 22, with a stop-loss at ₹ 21 on a closing basis, and anticipates a potential upside target of ₹ 25 in the near term. At 2:55 PM, Yes Bank shares were trading 8.15% higher at ₹ 23.22 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
02-06-2025
- Business
- Business Standard
YES Bank jumps 6% in weak market; board to discuss fundraising on June 3
YES Bank shares jumped 6.4 per cent in trade on Monday, June 2, 2025, logging a day's high at ₹22.86 per share on BSE. The stock extended rally for the third consecutive session and rose nearly 7 per cent. In the past one year, YES Bank shares have gained 9 per cent as compared to Sensex's rise of around 7 per cent. At 10:37 AM, YES Bank share price was up 5.7 per cent at ₹22.58 per share on the BSE. In comparison, the BSE Sensex was down 0.64 per cent at 80,929.25. The market capitalisation of the company stood at ₹70,812.77 crore. The 52-week high of the stock was at ₹27.41 per share and 52-week low of the stock was at ₹16.02 per share. YES Bank fundraising The board of YES Bank will meet on Tuesday, June 3, 2025, to consider raising funds. "In accordance with Regulation 29(1) and Regulation 50(1) and other applicable provisions of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), this is to inform that the meeting of the Board of Directors of YES Bank Limited ('the Bank') is scheduled to be held on Tuesday, June 03, 2025, inter alia, to consider raising of funds by way of issuance of equity shares, debt securities and/or any other eligible securities (convertible/non-convertible) through permissible modes, including but not limited to a private placement, preferential issue or any other method or combination of methods, subject to such approvals as may be required," the filing read. YES Bank to boost retail book In an interview with Business Standard, Rajan Pental, executive director, YES Bank, said that the bank can grow its retail book by 30 per cent if it desires because the platforms are ready, but they want to do it in a regimented way. The bank is also shifting its focus from low-yielding secured retail products to medium-yielding ones while ensuring that its high-yielding unsecured retail portfolio does not exceed 25 per cent of the overall retail book as the bank views anything beyond 25 per cent unsecured book to be 'risky'. About YES Bank YES BANK is a commercial bank headquartered in Mumbai, that offers a wide array of products, services, and digital solutions, catering to Retail, MSME, and Corporate clients.
