Reviews

Share growth for third straight session by YES Bank

Share growth for third straight session by YES Bank

Share of the private sector lender that exited from Nifty and Sensex has risen 0.33percent in 1 week. However, the stock has fallen 6 percent in one month and 73% since the beginning of the year.

YES, Bank shares were trading higher for the third consecutive session at Rs 12.28. This was later the creditor explained over a report which claimed that the bank is currently in talks with asset reconstruction companies (ARCs) to sell its NPAs worth Rs 32,344 crore.

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Last week, few reports indicated that the troubled private industry lender is gearing up to market its non-performing assets (NPAs) worth Rs 32,344 crore to asset reconstruction companies (ARCs) or other potential investors.

YES, Bank, nevertheless in a clarification had said, “The Bank would like to explain that, the Bank in its normal course of business investigates choices of selling NPAs into ARCs as it may deem necessary.”

YES, Bank share price opened at Rs 12.40 now, also the day’s high of Rs 12.40, rising 0.89% in today’s session. Earlier, the inventory erased profits and reach an intraday low of Rs 12.26 as against the previous close of Rs 12.29 on BSE.

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On the other hand, the inventory has dropped 6% in 1 month and 73% since the beginning of the year. The market capitalization of the lender stood at Rs 30,767 crore.

“Specific news posts reported by media carries a reference to pricing of this said stressed portfolio and special structure, which is speculative and has no bona fide reference. The Bank at this point isn’t part of such specific discussions.,” YES, Bank added.

The stock cost of the troubled private business lender, which has traded positive for the previous three days, has been on a decline because the bank reported its June-Sept quarter earnings.

Written by
Arpit Singhal

I love working with Blogging and doing it the right way. #1goal: Keeping it as simple as possible for viewers.

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