YES Bank’s investors get 9,000 crores profit


Mumbai: The investors who were afraid to invest money due to uncertainty about the management of YES Bank, the same bank gave them a 20% return in less than 24 hours. During this period, the market capitalization of the bank increased by Rs 9,015 crore.
In fact, since the announcement of new MD and CEO on January 24 by YES Bank on Thursday, the stock has risen sharply, which remained on the last day of the week. Seeing the closing price on January 23, the stock has climbed up to 20 per cent and closed at Rs 219 on Friday.
On Thursday, Yes Bank announced that Ravneet Singh Gill would be the next managing director and CEO of Yes Bank. At the same time, uncertainty over management was over. After that the stock gained momentum and the stock closed 8% on Thursday at a price of Rs 213.85. On Friday also, the stock closed nearly 23 percent at 236.30 after close to 10 percent on Thursday.
On November 29, 2018, the bank’s stock fell to Rs 147, which was the lowest level for the last 52 weeks. From 20 October 2018 to 29 November 2018 i.e., within 40 days, the stock dropped from Rs 404 to a price of Rs 147, thereby reducing the wealth of investors by 64 percent.

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