Yes Bank Stock Jumps 13% After HDFC Gets RBI Green Light for Stake

by | Feb 6, 2024 | 0 comments

Yes Bank Stock Jumps Following RBI Approval for HDFC Bank Stake Acquisition

Early Trading Surge for Yes Bank Yes Bank witnessed a significant surge of up to 13% in early trade on the National Stock Exchange (NSE) on February 6. Yes Bank Stock Jumps came in the wake of HDFC Bank receiving Reserve Bank of India’s approval to acquire stakes in Yes Bank and five other lenders. By 10:35 am, Yes Bank stock was up by 9.5%, trading at Rs 25, marking a noticeable increase from its previous close.

RBI’s Nod to HDFC Bank Group HDFC Bank announced through a regulatory filing that it had been granted permission by the Reserve Bank of India to acquire up to 9.5% stakes in a selection of banks, including Yes Bank. This approval, intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo, and HDFC Life Insurance, highlights a strategic move by the group. The stakes in IndusInd Bank, Yes Bank, Axis Bank, ICICI Bank, Suryoday Small Finance Bank, and Bandhan Bank are covered under this permission.

The granted approval is set for a one-year duration, with a condition that it will be revoked if the HDFC Bank Group does not complete the stake acquisitions within this timeframe.

Yes Bank’s Financial Performance In its financial performance for Q3FY24, Yes Bank stock jumps were further justified by a reported net profit increase of 349.7%, rising to Rs 231.6 crore from Rs 51.5 crore in the last fiscal year. The operating profit for the bank also saw growth, with a 5.4% increase to Rs 864 crore.


Disclaimer: Investment opinions and tips on are solely those of the individual experts and do not reflect the stance of the website or its management. For investment decisions, recommends consulting with qualified professionals.


Submit a Comment

Your email address will not be published. Required fields are marked *

14 − ten =

Related Articles