YES Bank share was the top Sensex and Nifty gainer today amid a report that industrialists Sunil Mittal and Sunil Munjal have shown their interest in acquiring stake in the private sector lender. However, later a Bharti spokesperson strongly denied such rumours. YES Bank too in a clarification denied the rumour and said as a policy, the bank would not comment on the matter.
Reports emerged on Wednesday, Mittal and Munjal would be buying stake in their private capacity, which could be up to five percent. Another five percent may be sold to private equity investors.
YES Bank share price rose 9.28 percent to Rs 51.8 today compared to the previous close of Rs 47.40 on BSE. YES Bank share price has gained 28.41 percent in last five sessions. On Thursday, shares of the lender closed 15.19 per cent higher at Rs 47.40 on BSE on reports of Sunil Mittal and Sunil Munjal showing interest in acquiring a stake in the private lender.
The stock was also among the top volume gainers with 130 lakh shares changing hands amounting to Rs 65.34 crore turnover on BSE. On Nifty too, the share price rose 7.28 percent to Rs 50.85 compared to the previous close of Rs 47.40.
The stock has risen over 78 percent after it hit a fresh 52-week low of Rs 29.05 on October 1.
On October 1, YES Bank share price plummeted over 23 percent to hit a fresh 52-week low of Rs 29.05 on a report that the lender's promoters have sold another 2.16 percent stake in the bank.
According to a report in The Economic Times, YES Capital (India), Morgan Credits Private and Rana Kapoor jointly sold 552 lakh shares, or 2.16 per cent, stake in the open market during September 26 to September 27.
However, the stock has rebounded since then after management asserted its stable financial position and on reports that global private equity firms - TPG, The Carlyle Group and Farallon Capital - were seeking to buy large strategic stakes in the private lender.
On October 3, YES Bank share price closed 32.97 percent or 10.55 points higher on BSE after the private sector lender reaffirmed its stable financial position following a crash in stock in the previous trading session. On Nifty, the stock ended 33.59% higher at Rs 42.75.
On October 7, YES Bank share rose over 9 percent intra day at Rs 45.95 compared to the previous close of Rs 42.15 on BSE after reports emerged that global private equity firms - TPG, The Carlyle Group and Farallon Capital were interested in buying stake in the lender. Microsoft too was reported to be interested in buying stake in the lender.
On October 15, YES Bank share price rose 3.5 percent intraday after the bank announced that it sold 6.77 percent stake in Fortis Healthcare Limited for Rs 645 crore. In a bulk deal, YES Bank offloaded its remaining stake shares at an average price of Rs 130.27, valuing the transaction size at Rs 645.09 cr and completely exited the from the hospital chain' shareholding.
YES Bank shares climbed 3.5 percent to Rs 41 against the last closing of Rs 40 on the BSE.
By Aseem Thapliyal