Yes Bank Spikes, SBI Down After Govt Approves SBI's Stake Purchase In Yes Bank

The shares of Yes Bank after hitting fresh 52-week low in Wednesday's trade run up in the early trade by as much as 12% on Thursday after reports suggest that for reviving the fortunes of the beleaguered lender, the government has approved the leading SBI's plan to lead a consortium and buy stake in the private lender.

Yes Bank Spikes 12% After Govt Approves SBI's Stake Purchase In The Former

Nonetheless, shares of State Bank of India were trading lower by as much as 5% after the news.

Further in accordance with the Bloomberg report, there have been given a go-ahead by the SBI to begin the selection of members of the consortium.

Though, in a response to the query raised by the publishing company, SBI chairman called the report to be "speculative".

GoodReturns.in