Published on 7/10/2019 3:19:53 PM | Source: Dion Global Solutions Ltd

Yes Bank shares jump amid fresh investment buzz

Posted in Stock On The Move| #Yes Bank Ltd #Banking Sector #Stock On The Move

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Shares of Yes Bank rallied over 4 percent on Monday on the Bombay Stock Exchange on prospects of fresh investments in the company. According to the bank's chief executive Ravneet Gill, the private sector lender is in advanced stage of capital raising from investors, including global tech majors, to grow the balance-sheet that has been consciously shrunk in recent months.

Gill said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office. A combination of the two is most likely to enter the bank soon, he said, choosing not to disclose the exact targets or timelines. Following the development, shares of the company surged as much as 4 per cent in the intra-day trade at 43.85 a piece on BSE. On NSE, the shares of the company were trading at Rs 43.75 apiece, up by 3.80 per cent. Meanwhile, the BSE Sensex was at 37,786.73, down by 113.42 points or 0.31 per cent at 11:50 hours.