Yes Bank surges 14% on value buying

December 12, 2019 13:58

Shares of Yes bank on Thursday rose as much as 14 per cent on bourses mainly due to value buying after five consecutive trading sessions of losses.

On the BSE, the scrip after opening on a positive note further rose to an intra-day high of Rs 48.15, up 12.5 per cent.

Later, the stock was quoting at Rs 46.20 in the afternoon trading session, up 7.83 per cent from the previous close. Similar movements were seen on the NSE, where the scrip jumped 14 per cent to Rs 48.80. In the afternoon trade, the stock was trading at Rs 46.30, up 8.18 per cent from the previous close.

The uptrend in the counter comes following a fall in the bank's shares for five consecutive trading sessions due to uncertainty over its USD 2-billion fundraising plan. Market experts attributed the surge in the share price of the bank to value buying. -- PTI

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