Yes Bank shares jumped up over 2% to hit an intraday high of ₹16.35. The surge in the stock comes as the debt-ridden bank’s board approved raising ₹2,500 crore through debt securities.
The Investment: If you had invested ₹10,000 in Yes Bank a year ago, you would have bought approximately 778 shares. With the current market price at ₹16, your investment would now be worth approximately ₹12,448.
Background: The troubled bank that has wiped over 90% of investors’ money in the last five years continues to garner great interest. At the end of the March quarter, the bank had over 50 lakh shareholders – the most for any stock listed in India. The bank also became the first stock to cross the 50-lakh mark. As per the data, around 49.7 lakh of the total investors are those with investments up to ₹2 lakhs.
On the flip side, the bank’s financials remain dampened in the March quarter. The company's profits took a major hit in Q4. The troubled bank reported net profits of ₹202 crore, down around 45% from the ₹503.2 crore profits it booked in the corresponding quarter. The profits missed consensus estimates.
Price Action: Yes Bank's share price was up 0.94% to trade at ₹16.15 in the late hours of trading on Monday.
Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational purposes alone.
Editor's Note: Artificial intelligence was used as a secondary aid in the writing of this story.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.