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YES Bank shares zoomed 9% today; how strong is this upside?

YES Bank shares zoomed 9% today; how strong is this upside?

YES Bank share price: This sharp uptick comes just one day ahead of the private lender's scheduled board meeting, where key fundraising plans are expected to be discussed.

Prashun Talukdar
Prashun Talukdar
  • Updated Jun 2, 2025 3:22 PM IST
YES Bank shares zoomed 9% today; how strong is this upside?YES Bank shares jumped 8.99 per cent to reach a day high of Rs 23.40.

Shares of YES Bank Ltd experienced a significant surge on Monday, climbing 8.99 per cent to reach a day high of Rs 23.40. This sharp uptick comes just one day ahead of the private lender's scheduled board meeting, where key fundraising plans are expected to be discussed.

"This is to inform that the meeting of the Board of Directors of YES Bank is scheduled to be held on Tuesday, June 3, 2025, inter alia, to consider raising of funds by way of issuance of equity shares, debt securities and/or any other eligible securities (convertible/non-convertible) through permissible modes, including but not limited to a private placement, preferential issue or any other method or combination of methods, subject to such approvals as may be required," the bank stated in a recent BSE filing.

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State Bank of India (SBI) last month announced that it would sell around 13 per cent of its holding in YES Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC). The deal is expected to happen within 12 months from the date of execution or such other date as mutually agreed.

Analysts suggest that the stock could reach Rs 25 in the near term, with support likely in the Rs 20–21 range.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities, stated that Rs 23.94 is a crucial resistance level for the stock. "If the stock closes above Rs 24, it could pave the way for a potential rise towards Rs 27.2, and eventually Rs 32.8 level," he said in an interview with Business Today.

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Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "Traders can consider buying the stock on dips near Rs 22, with a stop loss placed at Rs 21 on a closing basis. The stock has potential to move towards an upside target of Rs 25 in the near term."

Ravi Singh, SVP - Retail Research at Religare Broking, also suggested that the counter looked strong on charts and could hit Rs 25 level. He advised keeping a strict stop loss of Rs 20.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted that YES Bank has crossed its key swing high near the Rs 22 mark. He said if buying interest continues, the stock could see a short-term upward move, potentially reaching the Rs 25–26 range. On the downside, he identified support levels around the Rs 20–21 zone, which could act as a cushion in case of any pullback.

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Jigar S Patel, Senior Manager (Technical Research Analyst at Anand Rathi), said, "Support will be at Rs 21.30 and resistance at Rs 22.90. A decisive move above Rs 23 level may trigger a further upside towards Rs 25. The expected trading range will be between Rs 21 and Rs 25 for the short term."

As per available exchange data, SBI owned a 24 per cent stake in the bank, while other domestic entities such as Kotak Mahindra Bank, Axis Bank, ICICI Bank and Life Insurance Corporation of India (LIC) held a combined stake of 11.34 per cent in YES Bank. And, private equity (PE) funds Advent International and Carlyle reportedly held 9.2 per cent and 6.84 per cent, respectively.

Once the SMBC deal happens, SBI's stake in the private lender will be reduced to 10.81 per cent.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jun 2, 2025 3:01 PM IST
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