Surge of YES bank and Adani shares
Shares of YES Bank surged 10.6 per cent to Rs 16.25 per share, hitting 52-week high in an otherwise weak market. YES Bank's stock price has zoomed over 22 per cent in the past five trading sessions. The shares have climbed over 49 per cent so far this April.
After witnessing significant reduction in the deposit base during financial year 20, the bank has seen 55 per cent increase in the deposits to Rs 1,62,947 crore as on March 31, 2021 as compared to Rs.1,05,364 crore as on March 31, 2020. deposits of the bank have also increased by 52 per cent during FY21 to Rs 42,587 crore as on March 31, 2021. Current and savings account ratio deposits of the bank have also increased by 52 per cent during FY21 to Rs 42,587 crore as on March 31, 2021.
Shares of Gautam Adani-led Adani Group companies continued their upward march with Adani Enterprises and Adani Green Energy hitting respective life-time highs after these two companies along with Adani Transmission announced plans to raise funds.
Adani Enterprise after touching a high of Rs 2,164, was up 0.4 per cent at Rs 2,150 on the BSE. Adani Green hit a high of Rs 2,250, and was up 1.2 per cent at Rs 2,215. Adani Transmission touched a high of Rs 2,471, but was down 0.1 per cent at Rs 2,446.
Written and Researched by:
Hrishabh Prasad