Yes Bank Share Price: Yes Bank jumps 7% to cross Rs 22, make such a strategy for investment

Yes Bank Share Price: Today, there is a great buying trend in the shares of private sector veteran bank Yes Bank. Its shares today crossed Rs 22 with a gain of about 7 per cent on January 2. In intra-day it reached a height of Rs 22.05 on BSE. Although it is still about 11 percent below the record high of one year. On December 14, 2022, it was priced at Rs 24.75, which is a one-year record high. Currently it is trading at Rs 21.75 with a gain of 5.58 per cent.

Its market cap is Rs 62,393.41 crore. Today more than 3 crore shares are being transacted i.e. trade (Total Trade Qunatity-TTQ). Market experts are also advising to maintain investment in it.

The boom may continue in Yes Bank

According to market expert Prakash Gaba, the bullish trend in Yes Bank shares may continue. He has advised to hold it for a long time. This positive trend for bank stocks is on account of easing NPA burden and changed economic conditions.

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What is positive with the bank

Last month, Yes Bank transferred NPAs worth Rs 48,000 crore to JC Flowers Asset Reconstruction Company. The balance sheet of its bank has improved and the result can be seen in the December 2022 quarter results. Apart from this, the RBI had recently approved the bank to raise Rs 8898 crore by selling around 20 per cent stake to two US private equity firms CA Basque Investments and Verventa Holdings. However, at the end of March 2023 this year, the lock-in period of about 75 percent of its shares is about to end, which means that the liquidity in the market will increase, the effect of which can be seen on the movement of shares.

Share close to 400 is not even reaching 25 now

Going towards Rs 400, this stock is now gasping to cross the level of Rs 25. Shares of Yes Bank were reaching close to Rs 400 four years ago and now the situation is that it has not even crossed Rs 25 for the last two years. On July 10, 2020, it reached a price of Rs 25.50 and since then it has not been able to cross the level of Rs 25 again. Due to financial pressures, its shares have been on a downward trend for the last few years but now they are showing signs of getting back on track.

Disclaimer: The advice or views expressed on are the personal views of the expert/brokerage firm. The website or management is not responsible for this. Moneycontrol advises users to always take certified expert advice before making any investment decision.

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