YES Bank share price rises 9%. Here’s why ac
Shares of Yes Bank jumped on Monday after the private lender announced that Japan’s Sumitomo Mitsui Banking Corporation (SMBC) will buy a 20% stake in the bank. The news led to a sharp rise in Yes Bank’s stock price, making it one of the top gainers of the day.
The share price of Yes Bank went up by as much as 9% during the trading session. It touched Rs 21.74 before trading slightly lower. The stock had ended at Rs 20 on Friday. With this rise, the bank’s market value reached nearly Rs 68,200 crore. Yes Bank’s shares have now gained nearly 36% from their 52-week low of Rs 16.02, which was hit just two months ago.
DETAILS OF THE DEAL
Sumitomo Mitsui Banking Corporation, a part of Sumitomo Mitsui Financial Group and Japan’s…
