Private lender YES Bank' shares rise by 20% in past two trade sessions; Here's the reason behind this PHENOMENAL surge

Shares of Yes Bank have seen phenomenal rise in the past two trade sessions with the stocks upsurge over 20%.

New Delhi: Shares of Yes Bank have seen phenomenal rise in the past two trade sessions with the stocks upsurge over 20%. They are trading at Rs 20.90 on Monday, seen nearly 11% surge in the prices. This marks the two-years highest per share. Investors are hopeful and excited in the fresh developments of private lender. Private lender Yes Bank informed the investors about the positive developments on fresh investments by Carlyle Group and Verventa Holdings Limited.   

It is to be noted that Reserve Bank of India (RBI) had given its final approval to YES Bank’s proposal on increase capital plan by Carlyle Group and Verventa Holdings.

India Stock Market remains volatile on Monday

Indian benchmark indexes BSE and NSE remained volatile and in red throughout the trading session amid the weak global cues. Monetary tightening by the Central banks around the world and high interest rates were suppressing the investors’ sentiments and made them less hopeful.

Two companies –Wine maker Sula Vineyard Limited and Aban Holdings open their IPOs for fresh issues.

The three-day initial public offering for Sula Vineyards will open on Monday for subscription and the firm has fixed the price band at Rs 340 to Rs 357 per share. The issue will conclude on December 14. At the higher end of the price band, the IPO is expected to fetch Rs 960.35 crore. Investors can bid for a minimum of 42 equity shares and in multiples thereafter.

Ahead of the IPO, Sula Vineyards on Friday said it has raised Rs 288 crore from anchor investors. The company has decided to allot 80,70,158 equity shares to anchor investors at Rs 357 apiece, aggregating to Rs 288.10 crore, it added.

Sula Vineyard IPO subscribed over 17 times by 2 PM on the first day of IPO. The subscription time for the first day will end at 5 pm.