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Friday, Nov 22, 2019

Yes Bank back in green after 5-day fall, zooms nearly 34%

Yes Bank on Wednesday said the decline in its stock price was mainly due to forced sale of 10 crore equity shares on the back of invocation of pledged shares by a large stakeholder.

business Updated: Oct 03, 2019 17:35 IST
Press Trust of India
Press Trust of India
New Delhi
Yes Bank’s shares zoomed nearly 34 per cent on Thursday.
Yes Bank’s shares zoomed nearly 34 per cent on Thursday. (HT File Photo )
         

Yes Bank’s shares zoomed nearly 34 per cent on Thursday, halting their fives day of continuous fall, after the company said its financials are strong, with the liquidity position well in excess of regulatory requirements.

Following the assurance, the scrip jumped 32.97 per cent to close at Rs 42.55 on the BSE. During the day, it rallied 35.93 per cent to Rs 43.50.

On the National Stock Exchange (NSE), it advanced 33.59 per cent to close at Rs 42.75.

The stock was the top gainer on both the Sensex and the Nifty.

Helped by a rally in the share price, the company’s market valuation also rose by Rs 3,435.66 crore to Rs 10,851.66 crore on the BSE.

In terms of traded volume, 428.20 lakh shares were traded on the BSE and over 58 crore shares on the NSE.

Yes Bank on Wednesday said the decline in its stock price was mainly due to forced sale of 10 crore equity shares on the back of invocation of pledged shares by a large stakeholder.

The private sector lender’s share price had plunged by nearly 30 per cent during intra-day trade on Tuesday (October 1), before closing the session down by 22.8 per cent at Rs 32.

Markets were closed on Wednesday on account of ‘Mahatma Gandhi Jayanti’.

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