Yes Bank from the last three days has been witnessing constant fall, but now seems to have come out of the monotony by witnessing a profit. On Wednesday the Yes Bank reported trading about 2.5% higher than earlier due to the joining of five more stocks in the large-cap stock announced by the Association of Mutual Funds in India (Amfi) during their semi-annual review. The new additions to the large-cap stocks are Adani Enterprises Ltd, Hindustan Agro, Gland Pharma Ltd, Jubilant Foodworks Ltd, and PI Industries Ltd. These changes in the Amfi will be in effect from February – July 2021.
The stocks of The Yes Bank opened at Rs. 18.25 as compared to their earlier close at Rs. 17.95. On BSE, the stocks had gained 2.5% which reached the day’s highest of Rs.18.40. Not just that, the stock also reached a low of Rs. 18 during their early trade on the same day. The stock saw an increase of 2% in the earlier week after Edelweiss Securities said that Yes Bank has been added back to the large-cap stocks by the (AMFI). The stock saw an overall rise of 18% in one month along with the rise of stocks for private banking indexes and companies like Sensex and Nifty that have been at an all-time high for quite some time now. Sensex gained about 7% during the same time.
The Market capitalization of Yes Bank was reported at Rs. 45,474.65 crore today. The stocks of the bank also touched a 52 week high of Rs. 87.95 along with a simultaneous low of Rs. 5.55. The shares of the bank having Rs. 2 face value have declined by about 59% in the last year, though the stocks are trading more than 20, 50, and the 100-day moving averages. The stocks have also seen a low of 5,200- day moving averages. During the regulatory filing for AMFI, Yes Bank brought it to notice that they logged a 1.3% growth for loans.