YES Bank shares jump 7% today, mcap nears Rs 66,000; here's why

Shares of YES Bank Ltd rose as much as 7 per cent during the early trading session on Monday as the private lender informed the bourses about receipt from a trust in the security receipts portfolio. YES Bank informed about the same through an exchange filing on Sunday.

YES Bank had sold its loan portfolio (NPA portfolio) to JC Flowers Asset Reconstruction Private Limited in December, 2022. The lender has made disclosures pertaining to the aforementioned sale, in the exchange filing, and has received some amount.

"The bank would like to inform you that it has received Rs 150 crores from a single trust in the security receipts portfolio. Since this amount (in excess of the underlying carrying value of the trust), is more than the materiality threshold as prescribed under the amended listing regulations, the said event is being hereby disclosed," said the exchange filing.

Following the announcement, shares of YES Bank gained about 6.85 per cent to Rs 22.93 on Monday, with a total market capitalization of close to Rs 66,000 crore, before giving up its gains partially. The scrip had settled at Rs 21.46 in the previous trading session on Friday.

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Shares of YES Bank have surged about 63 per cent from its 52-week low at Rs 14.10 hit on October 23, 2023. The stock is up 33 per cent, while it is up 45 per cent in the last six months period. However, the stock has remained flat in the last one year period.

As per data from BSE, a total of 2.40 crore shares of YES Bank were traded with a total turnover of Rs 52.93 crore as of 10.00 am on Monday. Similarly, about 13.20 crore shares of the private lender worth Rs 290.60 crore on the National Stock Exchange (NSE) at the same time.

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