YES Bank Rockets 6.15% to Reach Rs 26.25, Propelling Market Cap Beyond Rs 75,000 Crore in Tuesday’s Session
YES Bank’s Remarkable Rally: Shares Surge Over 85% from 52-Week Low, Achieving 50% Growth in the Last Six Months
- 6% Surge to New 52-Week High: YES Bank shares experienced a notable 6% increase on Tuesday, reaching a new 52-week high.
- Market Capitalization Exceeds Rs 75,000 Crore: The total market capitalization of YES Bank surpassed the Rs 75,000 crore mark, reflecting the positive momentum and investor confidence in the bank’s performance.
- 85% Gain from 52-Week Lows: The stock demonstrated an impressive growth trajectory, with a gain of more than 85% from its 52-week lows, underscoring a substantial recovery and potential positive sentiment among investors.
- Early Tuesday Surge: YES Bank Ltd witnessed a significant surge in its shares during the early trading session on Tuesday, reflecting increased investor activity.
- New 52-Week High: The private lender continued its upward momentum, reaching a new 52-week high during the session. This milestone suggests a positive trend in the stock’s performance.
- Renewed Trader Interest: The stock’s recent upward movement can be attributed to the renewed interest of traders, indicating growing confidence and interest in YES Bank among market participants.
YES Bank shares soared 6.15% on Tuesday, hitting Rs 26.25 before a partial retreat. The surge propelled its market capitalization beyond Rs 75,000 crore. Notably, the private lender had closed at Rs 24.73 in the preceding Monday session before the substantial gain.
Analysts Bullish on YES Bank Despite Overbought Signals: Recommend Hold with Caution and Stop Loss Around Rs 22-23, Anticipating Potential Upside to Rs 30 or Rs 40.
“YES Bank Gains Momentum: Recent Uptrend from Rs 15.80, Forming Higher Lows Indicates Positive Bias – Analysts Anticipate Further Rise with Confirmation Above Rs 23 Zone”
