INSUBCONTINENT EXCLUSIVE:
YES Bank shares have seen a volatile ride over the past year, falling 22% in the last 12 months and losing 26% from their peak of Rs 27.2
However, since hitting a low of Rs 16 in March, the stock has recovered nearly 25%, sparking renewed interest among traders and
daily chart, the stock is trading above its 100-day Moving Average, indicating a sustained positive trend
formed after the recent correction, signalling a possible reversal backed by growing buying interest
support near its previous bottom
also in the spotlight due to potential foreign investment
Sumitomo Mitsui Banking Corp (SMBC) has sought approval from the Reserve Bank of India to acquire up to a 25% stake in YES Bank
The Japanese lender had earlier entered into a binding agreement in May to purchase 20% from State Bank of India and a group of other Indian
banks.Sources told ET that if RBI clears the application, SMBC would have room to acquire an additional 5%, taking its total holding to 25%
range-bound, with technical and fundamental signals pulling in opposite directions
Whether the stock reclaims Rs 27 or slides below Rs 17 will likely depend on a combination of market sentiment, institutional flows, and
These do not represent the views of the Economic Times)
