{"id":77004,"date":"2022-12-09T13:13:00","date_gmt":"2022-12-09T07:43:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=77004"},"modified":"2022-12-09T13:56:55","modified_gmt":"2022-12-09T08:26:55","slug":"yes-bank-zoomed-13-80-intraday-crested-to-reach-a-52-week-high","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/yes-bank-zoomed-13-80-intraday-crested-to-reach-a-52-week-high\/","title":{"rendered":"Yes Bank zoomed 13.80% intraday; crested to reach a 52-week high\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3104417186\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Yes Bank soared 13.80% during early trades on Friday to reach a fresh 52-week high of \u20b9 20.50 apiece on the National Stock Exchange (NSE), in an otherwise weak market.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1586299676\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The Nifty Bank index reached its 52-week high of 43853.40 points. Yes Bank has outperformed the index by gaining 52.65% in the past six months as compared to a 24.70% rise in Nifty Bank.&nbsp;<\/p><p>The private lender has moved the National Company Law Tribunal (NCLT) to initiate a corporate insolvency resolution process (CIRP) against Digital Ventures Pvt. Ltd, a wholly-owned unit of Zee Learn Ltd. It filed a petition under Section 7 of the Insolvency and Bankruptcy Code which allows a financial creditor to file an application to initiate the process.&nbsp;<\/p><p>&#8220;The rise in Yes Bank shares could be public sector banks&#8217; rub-off effect. The upward move could also be due to the deal with two PE funds,&#8221; AK Prabhakar, Head of Capital, IDBI Capital.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1572504431\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In another development, earlier this week, the Reserve Bank of India (RBI) gave conditional approval to private equity investors CA Basque Investments and Verventa Holdings Limited to acquire up to 9.99% stake each, in Yes Bank. Together, this amounts to almost a 20% stake. CA Basque Investments is part of the Carlyle Group and Verventa Holdings Limited is an affiliate of funds advised\/managed by Advent International.&nbsp;<\/p><p>The bank has now received two more letters (separate to each investor) from the RBI in relation to the proposed investment. Yes Bank shall now engage with its investors for the completion of the proposed capital raise, subject to regulatory compliances and conditions as per the respective investment agreements. It did not elaborate on what these conditions were. Analysts attributed the sharp gains in the stock to this deal with the private equity firms, along with a sharp upswing in banking stocks.&nbsp;<\/p><p>Yes Bank is raising capital by selling its stake to the Carlyle Group and Advent International. Its shareholders on August 24, approved the fundraising proposal in an extraordinary general meeting. The bank on July 29, 2022, said that its board had approved the raising of \u20b9 8,898 crores by selling shares and warrants.&nbsp;<\/p><p>According to the RBI\u2019s regulations, stake sales of 4.99% and above in a private bank to an investor requires approval. Yes Bank in July said that it will sell up to 3.69 billion shares worth \u20b9 5093 crores to these private equity firms. In addition, it will issue 2.56 billion warrants to raise \u20b9 3,805 crores. This will be one of the largest capital-raising by a domestic private lender.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3987976111\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Yes Bank soared 13.80% during early trades on Friday to reach a fresh 52-week high of \u20b9 20.50 apiece on the National Stock Exchange (NSE), in an otherwise weak market.&nbsp; The Nifty Bank index reached its 52-week high of 43853.40 points. Yes Bank has outperformed the index by gaining 52.65% in the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":17679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-77004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yes Bank zoomed 13.80% intraday; crested to reach a 52-week high\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/yes-bank-zoomed-13-80-intraday-crested-to-reach-a-52-week-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yes Bank zoomed 13.80% intraday; crested to reach a 52-week high\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of Yes Bank soared 13.80% during early trades on Friday to reach a fresh 52-week high of \u20b9 20.50 apiece on the National Stock Exchange (NSE), in an otherwise weak market.&nbsp; The Nifty Bank index reached its 52-week high of 43853.40 points. 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