Yes Bank shares skyrocketed after news of loan waiver by Subhash Chandra

Yes Bank Share Price: The shares of Yes Bank have been rising since Friday. Within minutes of the stock market opening bell ringing on Monday morning, it reached an intraday high of ₹18.85 on NSE. After climbing to an intraday high of ₹18.85 per share, Yes Bank share price has gained nearly 15 per cent in two consecutive sessions. On Thursday, Yes Bank shares closed at ₹16.80.

On why Yes Bank shares have skyrocketed since last two sessions, Avinash Gorakshkar, Head of Research, Profitmart Securities said, “Yes Bank shares have rallied since last two sessions following some media reports on Friday about Subhash Chandra and Jesse Flower. are in a hurry. The two-year tussle to repay the loan at ARC is almost coming to an end. These reports say that Yes Bank’s asset restructuring arm has taken a cut of 75 per cent and now Subhash Chandra will have to pay ₹1500 crore instead of ₹6500 crore, but this 1500 crore will be paid in one go.”

Yes Bank Target Price: Expected to reach ₹24 level

“Yes Bank shares look positive on chart patterns and are expected to move towards ₹22 and ₹24 levels in the near term,” said Sumeet Bagadia, executive director, Choice Broking. The stock is trading at ₹18.85 per share after Monday’s deals. However, one should maintain a stop loss of ₹16.50 at each level while waiting for these near-term targets.”

If you did not buy these two shares of Railways then what did you buy? Even the speed of Bullet Train pales in comparison to their speed.

The stock can fall as fast as it rises

Advising new investors to wait for the official statement, Avinash Gorakshkar of Profitmart Securities said, “New investors are advised to wait for the official confirmation as the current hike is purely speculative. If there is no official statement from any of the parties involved in the debt restructuring deal, the stock may fall sharply.”

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own and not those of Live Hindustan. The information given here is only about the performance of the shares and is not an investment advice. Investing in the stock market is subject to risks and Consult your advisor before investing.)