INSUBCONTINENT EXCLUSIVE:
Ace investor Rakesh Jhunjhunwala has purchased Yes Bank shares worth Rs 87 crore
Rakesh Jhunjhunwala purchased a total of 1.29 crore shares in the private sector bank at an average price of Rs 67.10, according to bulk
At that price, the stock purchase by Mr Jhunjhunwala amounts to around Rs 87 crore
Shares in Mumbai-based Yes Bank soared 8.77 per cent to hit Rs 71.90 at the strongest level during Tuesday's session after the news.Yes
Bank had informed stock exchanges last week that it had received a binding offer of investment worth $1.2 billion from a global investor.On
Friday, Yes Bank reported a net loss of Rs 600 crore for the quarter ended September 30, as against a net profit of Rs 965 crore in the
corresponding period a year ago
Its asset quality worsened, with gross non-performing assets (NPA) as a percentage of total advances rising to 7.39 per cent in the
July-September period, from 5.01 per cent in the previous quarter.Yes Bank's net non-performing assets (NPAs) - or bad loans - increased
to 4.35 per cent in the second quarter of current financial year, from 2.91 per cent in the quarter ended June 30.Yes Bank shares have
witnessed heavy selling pressure so far this calendar year on account of the lender's worsening asset quality
On October 1, Yes Bank shares hit an all-time low of Rs 29, taking the year-to-date losses to 84 per cent.As of 12:56 pm, Yes Bank shares
traded 2.8 per cent higher at Rs 67.95 apiece on the BSE, outperforming the benchmark Sensex index which was down 0.38 per cent.Get Breaking
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