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Yes Bank Share Price: Yes Bank shares have seen a rise since Friday. It touched an intraday high of ₹18.85 on the NSE within minutes of the stock market’s opening bell on Monday morning. After touching an intraday high of ₹18.85 per share, Yes Bank’s share price has gained nearly 15 percent in two consecutive sessions. Shares of Yes Bank closed at ₹16.80 on Thursday.
On why Yes Bank shares have skyrocketed in the last two sessions, Avinash Gorakshkar, head of research at Profitmart Securities said, “After some media reports on Subhash Chandra and JC Flower on Friday, Yes Bank shares have been skyrocketing in the last two sessions. sessions. is in a hurry. ARC’s two-year-long battle for loan repayment is almost at an end. These reports say that Yes Bank’s asset restructuring arm has been reduced by 75 percent and now Subhash Chandra will have to pay ₹1500 crore instead of ₹6500 crore, but this ₹1500 crore will be paid in one go.
Yes Bank Target Price: Expected to reach the level of ₹24
Sumit Bagdia, Executive Director, Choice Broking said, “Yes Bank’s stock is looking positive on the chart pattern and is expected to move towards the ₹22 and ₹24 levels in the near term. The stock was trading at ₹18.85 per share after Monday’s trade. From the level Close above. However, a stop loss of ₹16.50 should be maintained at each level while waiting for near-term targets.”
Stocks can fall as fast as they rise.
Advising new investors to wait for official statement Avinash Gorakshkar of Profitmart Securities said, “New investors are advised to wait for official confirmation as the current hike is purely speculative. If there is no official statement from any of the parties involved in this debt restructuring deal, the shares could fall just as quickly.”
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