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Stock Buzz: Sharp Recovery in Yes Bank Shares

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Shares of the Bank, which lost 26% weekly loss last week, recovered heavily on Thursday. Shares were up 24.5% at this mid-session as the management of the Bank’s made clear the financial position to the stock exchanges. 

The CEO Mr. Ravneet Gill stated on Thursday that, the recent fall in Yes Bank stock price doesn’t reflect the Bank’s performance and it remains on a sound financial footing. The bank has informed the exchanges that immediate action will be taken to prevent the shares’ fall.

Shares of the Yes Bank started trading at Rs.35.20 on the NSE today. Shares at intraday surged 25% to Rs.41.30. At 1.40 pm the Yes bank shares were trading at Rs.39.20 with 23% gain compared to the previous closing price.  Take best intraday stock Tips from the experts.

On the first October, the share price hit its one-year (52-Week) low at Rs.29 per share. Its ever recorded one year-high-level was placed at Rs.286 that was on 3 April 2019.

Meanwhile, the NSE Nifty-50 Index, was trading at 11279-level, down by 80 points and the BSE Sensex stood at 38020, down 300 points in trade at 1.45pm.

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