Yes Bank shares zoom 9% after Rakesh Jhunjhunwala buys stake

Shares of Yes Bank on Tuesday advanced nearly 9% after ace investor Rakesh Jhunjhunwala bought approximately 1.3 crore shares of the company for around Rs 87 crore through open market transactions.

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Top gainer on Sensex and Nifty

The scrip, after a positive opening, further jumped 8.77% to Rs 71.90 on the BSE. On the NSE, it zoomed 8.84% to Rs 72. It was the top gainer on both Sensex and Nifty during early trade.

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According to bulk deal data available with the BSE, Jhunjhunwala purchased 1,29,50,000 shares of the private lender amounting to a 0.5% stake.

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The shares were bought at an average price of Rs 67.1, taking the transaction to Rs 86.89 crore, the data showed.

Shares of the lender, after plunging 15% during the previous session on Monday, recovered most of its early losses and closed over 1% lower after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans.

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