The Yes Bank will hold its meeting of the board of Directors on January 22. The board is expected to take a lot of new decisions that they are sure will help the customers and the bank. They might consider raising the funds of the banks through various modes. This notification was released by the bank to stock exchanges today. The Bank has also announced their earnings for the December Quarter.
On the levels of BSE and NSE, the Yes Bank ranked higher against the active baking sector in Volume. The shares of the bank traded 2.8 percent higher despite the financial markets trading low these days. The Raising of funds has been allowed by the issuance of depository receipts, debentures, equity shares, warrants, convertible bonds, or any other form of equity-linked security. This raising of funds through these modes is only applicable after the proper approval from the regulatory approvals or shareholders as necessary, the bank announced.
It is believed that it was after brokerage house Jefferies in a report mentioned about the Piramal group gaining creditors’ approval to acquire DHFL’s loans was a drastically positive decision that the shares in the Yes Bank started sharpening up. The acquisition was profitable for those who had exposure to DHFL like the state-run State Bank of India, Union Bank, Canara Bank, and of course the private lender Yes Bank.
Yes Bank was moved to the list of companies belonging to the small-cap companies, but the increase in the bank shares proved to be fruitful for the bank. After a period of downfall, the bank was re-named a part of the large-cap stocks companies. It was in the semi-annual Association of Mutual Funds (MFI) review meeting that this announcement was made. This change in the bank’s role status will be in effect from the period of February to July 2021.