Yes Bank Shares Gain For Second Day After Lender Assures On Stability

Yes Bank shares continued their gains for the second day and scaled as much as 3% to an intra-day high of Rs. 40.90 on the BSE. In the previous session also the stock gained by a similar percentage on buying stake in Reliance Power's subsidiary based out of Shahjahanpur, UP.

Yes Bank Shares Gain For Second Day After Lender Assures On Stability

Today's gains have largely been seen after the private sector lender nullifying all the speculation around bank's possible closure affirmed its customers of its stability as well as liquidity position.

We firmly assure all our customers on Yes Bank's liquidity and stability. In this regard, it may be noted that the bank's overall capital adequacy ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the bank even further", said the bank in a press release on Wednesday.

At the same time, the bank has made another acquisition SICAL Logistics, a company engaged in providing dredging and retail supply chain logistics solutions.

For over a long period Yes Bank shares have been seeing high volatility on repeated failure in capital raising. In the last board meet, approval has been received for raising as much as Rs. 10000 crore, which the bank will decide on in its EGM on February 7.

Last the stock of Yes Bank was trading higher by 0.75% at Rs. 40.10 on the BSE.
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