Stocks

YES Bank hits 1-week high on QIP reports

Reuters August 7 | Updated on August 07, 2019 Published on August 07, 2019

Private sector lender YES Bank Ltd's shares rose as much as 7.8 per cent to Rs 92, their highest since July 31.

Media reports said YES Bank may launch a qualified institutional placement (QIP) later this week. According to one media channel, HDFC AMC may participate in the QIP.

YES Bank profit dropped over 90 per cent last month due to higher provisioning for bad loans. The shares have taken ~53 per cent hit this year.

The broader market, bank index was little changed ($1 = 70.9250 rupees)

Published on August 07, 2019
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