YES Bank gains 9% after Rakesh Jhunjhunwala buys 0.5% stake

On Monday, the ace investor bought 12.9 million shares representing 0.51 per cent of the total equity of YES Bank at a price of Rs 67 apiece in a bulk deal on the BSE.

Shares of YES Bank advanced 9 per cent to Rs 71.90 on the BSE on Tuesday after ace investor Rakesh Jhunjhunwala bought a 0.5 per cent stake in the private sector lender for Rs 86 crore on Monday.

On November 5, Jhunjhunwala bought 12.9 million shares, representing 0.51 per cent of total equity, of YES Bank at a price of Rs 67 apiece in a bulk deal on the BSE, the exchange data shows. However, the name of the sellers could not be ascertained immediately.

At 09:34 am, the stock was trading 5 per cent higher at Rs 69.40 on the BSE,