Shares of private sector lender YES Bank Ltd ended 5% higher today after the lender said it has received Rs 120 crore from sale of NPA portfolio to JC Flowers ARC.
YES Bank stock ended 5.38% higher at Rs 19.39 against the previous close of Rs 18.40 on BSE.
The stock zoomed 5.92% intraday to Rs 19.49. Stock of YES Bank has gained 15 per cent in a year and lost 10.44 per cent in 2023. In two weeks, the stock has gained 21.64 per cent. Market cap of the bank stood at Rs 55,762 crore today. YES Bank has a one-year beta of 1.1, indicating high volatility during the period.
ALSO READ: Multibagger IT stock trading in overbought zone, can it cross Rs 1,500 mark?
In terms of technicals, the relative strength index (RSI) of the YES Bank stock stands at 72.4, signaling the stock is overbought.
YES Bank stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
"This is with reference to our earlier disclosure pertaining to Sale of NPA Portfolio to JC Flowers ARC on December 17, 2022. In this regard, the Bank would like to inform that it has received a redemption amounting to Rs 120 crore from a single trust in the Security Receipts Portfolio. Since the net amount (redemption quantum, 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 under Regulations 30 of Listing Regulations," said the lender in an exchange filing.
YES Bank reported a 47.4 per cent rise in net profit to Rs 225.21 crore in the September 2023 quarter against Rs 152.82 crore in the year ago period. On a sequential basis, the bottomline dropped more than 34 per cent from Rs 343 crore in the June 2023 quarter.
Also read: Hot stocks on November 13: Canara Bank, Force Motors, Dilip Buildcon, Wockhardt, BHEL and more
Also read: Stock recommendations for November 13 2023: NDMC, Bharat Electronics & Lemon Tree
Also read: Manappuram Finance shares rally 5% on Q2 results, dividend announcement