Yes Bank Surges 10% On Fund Raising Speculation

Yes Bank shares continue their upward journey with the stock climbing again by 10% to hit an intra-day high of Rs. 56.50 per share on the BSE. There have been speculations doing the rounds that the private sector lender is close to mop up funds.

In the last trading session, Yes Bank was the top Sensex and Nifty gainer.

On October 1, the stock of Yes Bank hit a new 52-week low of Rs. 29.05 per share, declining 23% after reports came in that the promoters have sold 2.16% stake in the bank.

Since then the stock has shown resilience after the management said its financial position is stable and on reports of PE companies showing interest to buy stakes in the lender
On November 1, Yes Bank will announce its second quarterly earnings.

The stock of Yes Bank was last seen quoting at Rs. 55.35, higher by 7.68% or Rs. 3.95 against the previous close of Rs. 51.40

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