YES Bank’s share price rose at the start of trading today after eight banks, including SBI, came to the aid of the troubled lender with total capital of over Rs 11,000 crore. YES Bank’s share price rose 58% to Rs 40.4 from the previous close of Rs 25.55 today. YES Bank stock opened with a loss of 9.39% to Rs 23.15 today, but later buying momentum drove the stock higher. YES The bank’s market cap reached Rs 9,755 crore on BSE.
A total of 119.96 lakh shares changed hands, representing a turnover of Rs 42.22 crore. YES Bank’s share has lost 84% in the past year and has fallen 18.21% since the start of this year. The State Bank of India (SBI), which heads the consortium formed to revive YES Bank, will inject Rs 7,250 crore into the bank.
Alert YES to the Bank’s shareholders! You cannot sell more than 25% of shares for the next three years
ICICI Bank and HDFC Mortgage Lender will each invest Rs 1,000 crore. Axis Bank will invest Rs 600 crore, while Kotak Mahindra Bank will invest Rs 500 crore. Bandhan Bank and Federal Bank will invest Rs 300 crore each, while IDFC First Bank will invest Rs 250 crore.
On Saturday, the government notified YES Bank’s rebuilding program, saying the Rs 50,000 cap on cash withdrawals would be lifted within âthree working daysâ of the start of the program (Wednesday next week). It also led to a positive sentiment around the actions going on today.
OUI Bank’s third quarter net loss reached Rs 18,564 cr, its worst ever
On March 6, the stock hit an all-time low of Rs 5.55 after RBI took control of the private sector lender’s board of directors. Mid-cap stock rebounded 180% within 20 minutes in the same session amid reports that RBI Governor Shaktikanta Das met with finance ministry officials to resolve the issue. YES Bank crisis.
Das ensured a quick solution and prompt action within a month. Earlier today, mid-cap stock plunged 85% to its all-time low in morning trading from the previous close of Rs 36.85 on BSE. So far, the stock has gained 628% to Rs 40.40 against its all-time low of Rs 5.5 on BSE.
Meanwhile, Sensex was trading 1,762 points or 5.17% lower at 32,341 and Nifty was down 500 points to 9,456.
All Sensex stocks were trading in the red with IndusInd Bank, ICICI Bank, Bajaj Finance and Axis Bank being the biggest losers on Sensex. On Nifty, YES Bank, BPCL and Dr Reddy’s were the only winners.
The biggest losers were IndusInd Bank, Adani Ports, ICICI Bank and Bajaj Finance were the biggest losers for Nifty.
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