YES Bank share gained over 10% in a day


YES Bank share price gained over 10 percent in intraday after the lender said it would consider fundraising via debt on June 10. Share of YES Bank reached at Rs 15.19 against previous close of Rs 13.73 on BSE. The stock dumped to a level of Rs 13.81 on an intraday trade. The large cap stock has gained 12.63% in the last four days.The Market cap of the company rose to Rs 37,757 crore on BSE. The banking stock trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving average. A meeting to be held on June 10 in which the Board of Directors of Yes Bank will be considering and approve, seek shareholders' approval for borrowing/raising funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN)," Yes Bank said in a press release. The bank said proactive provisioning of Rs 250 crore towards COVID-19 related restructuring (Rs 2,500 crore) is expected to be implemented in first quarter of the current fiscal.

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