Shares of Yes Bank have been bullish for the past few sessions. In Friday’s session, this private lender stock ended up 3 per cent, while it has gained over 5 per cent in the past one week. Similarly, the share price of Yes Bank has risen in the last one month. from 12.65 15 at each level, provides a return of more than 18 percent to its shareholders over this time period.
According to stock market experts, Yes Bank shares Due to the announcement by private lenders regarding fund raising and strong Q1 earnings numbers are rising. He said that the stock is currently trading in the range from 12.50 16.20 And it can go up 19 on the break of the upper barrier at this range. However, he advised investors to buy Yes Bank shares only when it closes above 16.20 Each level.
On why Yes Bank shares are rising, Ravi Singh, Vice President and Head of Research, Share India, said, “The stock of Yes Bank is gaining momentum as the bank plans to raise funds through rights issue, preferential allotment etc. The bank has also posted better expected earnings figures for the June 2022 quarter with a sharp drop in gross NPAs. However, the limited growth target is suggestive of technical setup. from 17 18 each level in the near future.”
On the chart pattern of Yes Bank shares, Ravi Singhal, CEO, GCL Securities said, “Yes Bank shares are in immediate range from 13.80 16.20. However, Yes Bank has a wider range from 12.50 16.20 And it can go up from 18 19 each level after breaking the upper barrier placed on 16.20 Each level. Those having shares of Yes Bank in their portfolio are advised to upgrade their Trailing Stop Loss 13.80 level. However, one should buy the stock only if the Yes Bank shares close above 16.20 each level.”
On Friday evening, Yes Bank announced to raise equity capital of approximately $1.1Bn (approx. 8,900 crore) from funds affiliated to two global private equity investors – Carlyle and Advent International, each investor potentially acquiring up to 10 per cent stake in Yes Bank. It will be raised through a combination of around $640 million (approx. 5,100 crore) in equity shares and approximately $475 million (approx. 3,800 crore) through equity share warrant.
Speaking on the fund raising move, Prashant Kumar, Managing Director and CEO, Yes Bank said, “We are extremely committed to complementing the Bank’s long-term strategy by including such pedigree investors as Carlyle and Advent International as our partners. are happy. This is a testimony to the inherent strength of the franchisee of the bank. We are excited about the incremental opportunities this partnership creates for us and we are confident that both investors will play an important role in the bank’s next growth phase.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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