Yes Bank shares cheer New Year after receipt of ₹150 crore from NPA portfolio sale. Experts see more upside
Stock market today: Yes Bank shares witnessed buying interest in early morning deals on first trade session of the new year 2024. In morning deals, Yes Bank share price opened upside and went on to touch intraday high of ₹22.10 apiece levels on NSE, which is just 4 per cent away from 52-week high of ₹23.05 per share.
According to stock market experts, Yes Bank share price today witnessed upside movement after the private lender's declaration to receive ₹150 crore from a single trust in Security Receipts Portfolio after NPA portfolio sale. They said that Yes Bank shares may continue to trade positive and go up to ₹26 apiece levels in short term and advised Yes Bank shareholders to hold the scrip with trailing stop loss at ₹19 apiece levels.
On triggers that fueled Yes Bank share price today, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Yes Bank shares are rising today as market has gone bullish on the scrip after private lender's declaration to receive ₹150 crore from single trust after bad loan sale. Market is expecting that amount received would benefit private lender and its margins as more receipt are expected afte NPA portfolio sale to JC Flowers ARC." Also Read: RailTel Corporation shares extend gains for second day, hit new all-time high Expecting further rally in Yes Bank shares, Sumeet Bagadia, Executive Director at Choice Broking said, “Yes Bank shares are looking positive on chart pattern and it may soon go up to ₹26 apiece levels, once it closes above ₹22.
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