Yes Bank share price today: Yes Bank’s share price continued its upward momentum, jumping another 8.4% in Friday’s intraday trade (October 10) to reach a new 52-week high of ₹24.30 apiece. This also pushed the stock’s October returns to 12.5% so far.
The shares have closed higher in eight of the last nine trading sessions, resulting in a cumulative gain of 16%. For this week alone, the stock is up by 9.3% and is on track to post its biggest weekly gain since early May, when it had advanced 13.11%.
The stock has seen renewed buying interest in recent months following multiple positive developments, including the stake acquisition by Japanese financial major Sumitomo Mitsui Banking Corporation (SMBC), rating upgrades, and the release of the bank’s September quarter business update.
Last month, Japan’s SMBC completed the acquisition of a 24.22% stake in Yes Bank from state-owned State Bank of India (SBI) and other bank investors.
With this transaction, SMBC has become Yes Bank’s largest shareholder, while SBI continues to hold a significant stake of over 10%. This milestone marks the largest cross-border investment in an Indian private-sector bank.
Yes Bank said it intends to leverage SMBC’s global strengths, particularly in facilitating trade and investment flows between Japan and India, to accelerate growth in its corporate banking, treasury services, and cross-border solutions.
SBI and the seven investor lenders had invested in the bank as part of the Yes Bank reconstruction scheme in March 2020. Meanwhile, four domestic credit rating agencies — CRISIL, ICRA, India Ratings, and CARE — have now assigned the bank an AA- rating, the highest level since March 2020, which has also supported the stock’s upward momentum.
