Yes Bank Share Price: Yes Bank got ₹150 crore from the sale of NPA worth ₹48000 crore, share jumped by 7%
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Yes Bank Share Price: There has been a stormy rise in the shares of Yes Bank on the first trading day of the year. It was told in the exchange filing by the bank on Sunday that the bank has received Rs 150 crore from the sale of NPA worth Rs 48000 crore. The bank has sold the NPA portfolio to JC Flowers ARC on December 17. After this news, the bank’s shares jumped. Yes Bank shares opened at Rs 21.50 in the morning, which during trading reached its 52-week maximum rate of Rs 23. At 2 pm the company’s shares were trading at Rs 22.70 with a rise of 5.83 per cent i.e. Rs 1.25. At the same time, the company’s investors saw a rise of about 7.58 percent i.e. Rs 1.60 in the last five days. At the same time, in the last six months, the company’s shares saw a rise of 38.84 percent i.e. Rs 6.35.
The bank had bought 9.9% stake in JC Flowers ARC.
JC Flowers ARC was formed in May 2015. The bank had purchased 9.9 percent equity stake in November 2022. However, later due to some reason it came down to 5.01 percent. After this, again in October 2023, Yes Bank invested an additional Rs 2.4 crore in the company. After this, the bank’s stake in the company again increased to 9.9 percent. Yes Bank is trying to reduce its losses by selling its NPA assets. According to BSE data, till 10 am on Monday, a total of 2.40 crore shares of Yes Bank were bought and sold. Its total turnover was Rs 52.93 crore. Similarly, the private lender had around 13.20 crore shares worth Rs 290.60 crore on the National Stock Exchange (NSE) at the same time.
What do experts say
According to CNBC, the base on the chart is at ₹21. If this stock goes upwards till ₹ 29 then the share will bottom out. At the same time, a target of up to Rs 100 can be seen above it. However, the stock will take four to five years to reach there. Bank shares are rising today as the market got a boost after the private lender announced raising ₹150 crore from a single trust following bad loan sales, said Avinash Gorakshkar, head of research at Profitmart Securities. The market expects that the recovery of the bank will increase. Expecting further upside in Yes Bank shares, Sumeet Bagadia, Executive Director, Choice Broking said that Yes Bank shares are looking positive on chart patterns and it may soon go towards the level of ₹26 per share, once It will close above ₹22. Therefore, those who have Yes Bank shares in their stock portfolio should hold the stock further while maintaining the stop loss at ₹19.
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