Trade Nivesh Well-known investor Rakesh Jhunjhunwala has played big bets on Yes Bank shares. As per the bulk deal data, he has bought 0.51 per cent stake of this private sector bank for Rs 86.89 crore. He has bought 1.30 crore shares of it at a price of Rs 67.10.
However, market experts are not unanimous that after Jhunjhunwala's investment, good days are coming for this stock. The condition of this bank has gone from bad to worse in the last few months. The stock, which closed at Rs 66.10 on Monday, opened at Rs 70.40 on Tuesday.
Yes Bank recently recorded its lowest level of Rs 29.05, but after this it has jumped more than 140 percent. However, its 52-week peak is at Rs 285.90 and the highest level is Rs 404. It is far behind both these levels.
"Jhunjhunwala is a very big investor. We consider him very much. Many stocks have sourced investors' teeth in the recent past," a senior official of a large brokerage firm said on condition of anonymity. The shares have not performed much during this period. "
This market veteran has divided Jhunjhunwala's shares into two parts, the first one is investment and the second is trading. He said, "We do not know whether Jhunjhunwala has placed this bet for investment or only for business."
On Tuesday, the stock saw a good boom, but it also cooled down with time. Another brokerage official, on the condition of anonymity, said, "There is a strong possibility of a rally in the stock on Tuesday, but it has to be seen how long the rally lasts."
Yes Bank informed the market that it has an offer of investment of $ 1.2 billion. Bank's CEO and MD Ravneet Gill told ET Now that the bank has total bids of $ 3 billion, but the bank will have to choose the best option for itself.
Gill said, "The question before us is which option is best for us. In the long run, we have to re-brand the bank and strengthen its position. The capital committee of the bank's board has to take this decision. And then the board will approve it. "
However, market experts are not unanimous that after Jhunjhunwala's investment, good days are coming for this stock. The condition of this bank has gone from bad to worse in the last few months. The stock, which closed at Rs 66.10 on Monday, opened at Rs 70.40 on Tuesday.
Yes Bank recently recorded its lowest level of Rs 29.05, but after this it has jumped more than 140 percent. However, its 52-week peak is at Rs 285.90 and the highest level is Rs 404. It is far behind both these levels.
"Jhunjhunwala is a very big investor. We consider him very much. Many stocks have sourced investors' teeth in the recent past," a senior official of a large brokerage firm said on condition of anonymity. The shares have not performed much during this period. "
This market veteran has divided Jhunjhunwala's shares into two parts, the first one is investment and the second is trading. He said, "We do not know whether Jhunjhunwala has placed this bet for investment or only for business."
On Tuesday, the stock saw a good boom, but it also cooled down with time. Another brokerage official, on the condition of anonymity, said, "There is a strong possibility of a rally in the stock on Tuesday, but it has to be seen how long the rally lasts."
Yes Bank informed the market that it has an offer of investment of $ 1.2 billion. Bank's CEO and MD Ravneet Gill told ET Now that the bank has total bids of $ 3 billion, but the bank will have to choose the best option for itself.
Gill said, "The question before us is which option is best for us. In the long run, we have to re-brand the bank and strengthen its position. The capital committee of the bank's board has to take this decision. And then the board will approve it. "
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