Yes Bank shares surge 5%, hit one-year high.
The share price of YES Bank experienced a 5.82% surge, reaching its one-year peak at Rs 25.63. At this level, the stock has demonstrated an 81.77% increase from its 52-week low of Rs 14.10 recorded on October 23 of the previous year.
On Wednesday, YES Bank Ltd shares witnessed a significant 5.82% surge, reaching their one-year high at Rs 25.63. At this valuation, the stock has marked an impressive gain of 81.77% from its 52-week low of Rs 14.10, observed on October 23 of the preceding year. The BSE recorded a notable exchange of approximately 12.53 crore shares today, surpassing the two-week average volume of 7.28 crore shares. The turnover on the counter amounted to Rs 314.41 crore, resulting in a market capitalization (m-cap) of Rs 73,313.25 crore. Recent buzz surrounding the sale of stressed assets contributed to heightened activity in the private lender's counter. As of September 2023, YES Bank reported gross bad loans amounting to Rs 4,319 crore.
From a technical standpoint, support levels for YES Bank are anticipated at Rs 24, followed by Rs 23, Rs 22.3, and Rs 22. On the upside, the stock could potentially climb to Rs 31. However, an analyst advises profit booking at the current levels.
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