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Private sector lender YES Bank Ltd’s shares rose over 3 per cent on Tuesday. The stock was the top percentage gainer on the Nifty and Sensex.
On the NSE, the stock hit a high of Rs 238.85 before trading at Rs 232.85, up 2.85 per cent at about 12 noon. On the BSE, the stock rose to Rs 238.60, before quoting at Rs 232.25, up 2.65 per cent.
The bank on Monday reiterated FY19 credit cost guidance at 50-70bps. YES Bank's board is scheduled to meet later in the day to decide the future course of action after the central bank last week curtailed CEO and MD Rana Kapoor’s term until January 31, 2019.
The bank and its MD and CEO will be fully guided by its board, RBI and other relevant stakeholders - says YES Bank in a statement, assuring commitment to protect stakeholders’ interest.
Thirty-one of 46 brokerages rate the stock “buy” or higher, 10 “hold” and five “sell” or lower; their median price target is Rs 417.50.
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