Yes Bank

The Stock Price Of Yes Bank Rose By 9 Percent Today. Reasons Why

Intraday trading on Tuesday saw shares of Yes Bank Limited rise by more than 9 percent as investors prepared for the private sector lender to report quarterly earnings later in the week. On April 22nd, the financial institution will reveal its quarterly results for the month of March.

The private sector bank’s recent shareholding pattern suggests that there were 50.57 lakh shareholders as of 31 March 2023, which prompted the upswing.

13 insurance companies held a combined 4.62 percent

Thirteen mutual funds collectively held a 0.12% interest, or 3.32 crore shares, as of the most recent holdings data. 949.57 crore shares, or 33.02 percent, were owned by financial institutions. At the end of the March quarter, 13 insurance companies held a combined 4.62 percent, or 132.94 million shares.

As of December 2022, the lender has 48 million owners. According to regulatory filings made public on 31 December 2022, SBI had amassed a 26.14 percent interest in Yes Bank through the purchase of shares in the bank and other lenders at a price per share of 10 in March 2020.

Investments ranging from 1% to 4.34 % in Yes Bank are held by ICICI Bank Ltd, Axis Bank Ltd, IDFC First Bank Ltd, Kotak Mahindra Bank Ltd, Housing Development Finance Corp, and the government-owned Life Insurance Corp. of India.

Shares in Yes Bank

Yes Bank stock was 9.12 percent higher at 16.75 per share at 3:28 p.m. In the past week, the stock has climbed 7.52 percent, and in the past six months, it has risen 4.09 percent.

The stock price is up 17.38% in the last 12 months, but it’s down 23.79% for the year thus far.

Trendline information shows that the average broker price objective for Yes Bank shares is 19.3, indicating a possible gain of 16.97%.

According to data compiled by Refinitiv, the average rating among the 14 task force members of Yes Bank shares is “sell,” with a median price target of 15.