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Yes Bank shares zoom 9 per cent after Rakesh Jhunjhunwala buys stake

Shares of Yes Bank on Tuesday advanced nearly 9 per cent after ace investor Rakesh Jhunjhunwala bought approximately 1.3 crore shares in the private sector lender.

By: PTI | New Delhi | Published: November 5, 2019 11:36:29 am
yes bank, shares of yes bank, yes bank shares, yes bank news, rakesh jhunjhunwala buys stake in yes bank, rakesh jhunjhunwala purchases yes bank stock, ace investor rakesh jhunjhunwala portfolio, yes bank stock jumps, yes bank stock soars, yes bank bse, yes bank nse Shares of Yes Bank jumped by 8.77 per cent to Rs 71.90 on the BSE, while on the National Stock Exchange (NSE), the stock zoomed 8.84 per cent to Rs 72.

Shares of Yes Bank on Tuesday advanced nearly 9 per cent after ace investor Rakesh Jhunjhunwala bought approximately 1.3 crore shares of the company for around Rs 87 crore through open market transactions.

The scrip, after a positive opening, further jumped 8.77 per cent to Rs 71.90 on the BSE. On the NSE, it zoomed 8.84 per cent to Rs 72.

It was the top gainer on both Sensex and Nifty during early trade.

According to bulk deal data available with the BSE, Jhunjhunwala purchased 1,29,50,000 shares of the private lender amounting to 0.5 per cent stake.

The shares were bought at an average price of Rs 67.1, taking the transaction to Rs 86.89 crore, the data showed.

Also Read | Yes Bank shares plunge 15 per cent after Q2 net loss; recovers most of losses later

Shares of the lender, after plunging 15 per cent during the previous session on Monday, recovered most of its early losses and closed over 1 per cent lower after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans.

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