Yes Bank share price rises 5%: 2 key reasons that kept the stock in focus
Yes Bank share price ended the day with gains of 5.4% on Monday. While the benchmark indices saw strong gains and Nifty-50 index gained 0.6% on positive cues, the strong investor sentiments on private banks were also reflected by 1.03% rise in Nifty Private Bank index.
As the same added to positive momentum in the stock price. However Yes Bank having received ₹366 crore in the Security Receipts Portfolio from a single trust, against the sale of loan portfolio also lifted the sentiments significantly.
Yes Bank regarding with reference to its previous disclosed about the sale of our NPA portfolio to JC Flower ARC on December 17, 2022, in its filings to the Exvhanges on Saturday had said that it would like to inform having received of ₹366 crores from a single trust in the Security Receipts. Yes Bank said that " Since the amount(in excess of the underlying carrying value of the trust), is more than the materiality threshold as prescribed under the amended Listing Regulations, the said event, is being hereby disclosed under Regulations 30 of Listing Regulations.
Also Read- Nifty 50, Sensex hit fresh all-time high; why did Indian stock market gain today?- Explained Yes Bank share price has already been gradually rising since mid March and is up more than 16% ever since. Yes Bank in January 2024, had invited Expression of Interest for sale of identified stressed loan exposures through auction under Swiss Challenge Method, which the Bank is implementing in accordance with the guidelines outlined in the Reserve Bank of India's Master Direction on Transfer of Loan Exposures, 2021.
The expression of interest had been invited vide newspaper publication dated January 20, 2024. As a result, Yes Bank on March 19 also had announced
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