Stocks

Yes Bank shares zoom over 9 per cent on fund raising plans

PTI New Delhi | Updated on November 27, 2019 Published on November 27, 2019

Yes Bank is at the epicenter of rising stress in India’s credit markets.   -  Reuters

Shares of Yes Bank jumped over 9 per cent on Wednesday ahead of its board meeting later this week to consider raising of funds.

The scrip advanced 8.59 per cent to Rs 68.85 on the Bombay Stock Exchange (BSE).

On the National Stock Exchange (NSE), it climbed 9.26 per cent to Rs 69.

The stock was the top gainer on the Sensex and Nifty during morning trade.

In a filing to the BSE on Tuesday the company said, “notice is hereby given that a meeting of the board of directors of Yes Bank will be held on Friday, November 29, 2019 at Mumbai, inter alia, to discuss and consider raising of funds by issue of equity/ equity linked securities through permissible modes, subject to necessary shareholders/ regulatory approvals, as applicable.”

On traded volume terms, 87.70 lakh shares of the company were traded on the BSE and over 12 crore shares on the NSE during morning trade.

Published on November 27, 2019
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