Home » Stock » Yes Bank Shares Surge After Lender Names New CEO: 10 Things To Know

Yes Bank Shares Surge After Lender Names New CEO: 10 Things To Know

Yes Bank Shares Surge After Lender Names New CEO: 10 Things To Know

Yes Bank shares continued their surge on Friday, a day after the private sector lender named a new CEO. Yes Bank shares surged as much as 13.74 per cent to Rs. 245.00 on the National Stock Exchange (NSE) on Friday. On the Bombay Stock Exchange (BSE), Yes Bank shares rose 10.50 per cent to touch an intraday high of Rs. 236.30. Yes Bank shares were on course to finish higher for a fourth session in a row. In the past three days, the shares have risen 12.22 per cent on the NSE.
Here are 10 things to know about Yes Bank:
  1. Yes Bank shares were the top gainer on both the benchmark indices on Friday. At 12:16 pm, Yes Bank shares traded 7.41 per cent higher at Rs.  229.70 on the Bombay Stock Exchange (BSE). On the NSE, the stock traded up 6.87 per cent at Rs. 230.20.
  2. Yes Bank shares outperformed banking stocks. The Nifty Private Bank index – the NSE index of private sector lenders – was up 0.40 per cent at that time.
  3. Yes Bank shares on Thursday logged their sharpest intraday jump since September 2013, after the lender named Ravneet Singh Gill as its new managing director and CEO.
  4. The bank said it has received approval of the Reserve Bank of India (RBI) for Mr Gill to join by March 1.
  5. Mr Gill, head of Deutsche Bank India, will replace Yes Bank CEO Rana Kapoor.
  6. Yes Bank said its board will meet on January 29 to finalise who would lead the bank in the transition period.
  7. The RBI had earlier asked Yes Bank to find a new CEO by February 1.
  8. Yes Bank reported a nearly 7 per cent fall in its net profit for the quarter ended December 31, 2018.
  9. The net profit stood at Rs. 1,002 crore ($140.73 million) in the three-month period, the bank said. Net profit for the corresponding period a year ago was at Rs.1,077 crore.
  10. Meanwhile, benchmark indices Sensex and Nifty jumped as much as 0.77 per cent and 0.75 per cent higher respectively on Friday, tracking advances in global peers.


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