Yes Bank jumped 5.05% to Rs 66.60 after the bank said its board will meet on 29 November 2019 to consider raising funds.
The proposed fund raising will be through equity/equity linked securities through permissible modes, subject to necessary shareholders/ regulatory approvals, as applicable. The announcement was made after market hours yesterday, 26 November 2019.Yes Bank is currently banned from trading in the NSE's F&O segment as the combined open interest in its derivative contracts crossed 95% of the market-wide position limit.
Yes Bank will be excluded from the Sensex from Monday, 23 December 2019.
Meanwhile, the S&P BSE Sensex was up 167 points or 0.41% to 40,987.97.
The stock was trading in the range of Rs 65.70 to Rs 68.85 so far during the day.
In the past one month, shares of Yes Bank rose 21.64% to its current market price of Rs 66.60, outperforming the Nifty Private Bank index's 7.35% rise in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 56.308. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 56.66, but it was below its 200 DMA placed at Rs 131.75.
Yes Bank reported a net loss of Rs 600.08 crore in Q2 September 2019 as compared to net profit of Rs 964.70 crore in Q2 September 2018. The total income of the bank fell 4.3% to Rs 8332.21 crore in Q2 September 2019 over Q2 September 2018.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking and wealth management. The firm's segments include treasury, corporate/wholesale banking, retail banking and other banking operations.
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