Sunday, February 25th, 2024

Yes Bank Share: Yes Bank’s stock jumped 35% in three days, know why the stock rose

Yes Bank Share Price: Yes Bank’s stock is trading at Rs 24.05 with a jump of 14 per cent in Tuesday’s trading session. In the last three trading sessions, Yes Bank’s stock has jumped 35 percent. The stock had closed at Rs 17.75 on Thursday, since then there has been a steady rise in the stock. Now Yes Bank has again joined the elite club of top-100 companies listed on the stock exchange. Due to the tremendous rise in the stock, the market cap of Yes Bank has reached Rs 60.010 crore.

Why is Yes Bank stock rising

Recently, RBI has approved raising capital from funds associated with global private equity investors like Carlyle and Advent International. Apart from this, Care Ratings has upgraded the rating of Yes Bank. Since this news, there has been a rise in the stock of Yes Bank. But the question arises, how long will this boom continue?

Lock in period ends in March 2023

News reels

In March 2020, to bail out Yes Bank from the crisis, big investors along with SBI infused capital by buying stake in Yes Bank. These big investors include Axis Bank, ICICI Bank, Kotak Mahindra Bank, IDFC First Bank. The lock-in period of investment of these investors is ending on March 2023. After which these banks investing in Yes Bank can consider continuing their investment further.

Will the boom continue!

Deepak Shenoy, founder and CEO of Capital Mind, tweeted that if you are getting very excited about Yes Bank, then remember that the lock-in period for 75 per cent holding is going to expire in March 2023. After which a large amount of cash will come and everything will be over by the end of February.

Management control with SBI

Let us tell you that the management of Yes Bank was handed over to SBI. All private banks including SBI had invested in Yes Bank at Rs 10 per share. And in three years his investment has doubled.

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