New Delhi: The shares of Yes Bank surged by over 29 per cent on Thursday after five consecutive days of fall.
The stock zoomed 29.3 per cent to Rs 41.40, on the BSE. On the NSE, it jumped 29 per cent to Rs 41.30.
The private sector lender on Wednesday had assured the investors of a stable financial position. Yes Bank also said its financials are strong, with the liquidity position well in excess of regulatory requirements.
The private sector lender's share price had plunged by nearly 30 per cent during intra-day trade on Tuesday (October 1), before closing the session down by 22.8 per cent at Rs 32.
"This fall was primarily on account of the forced sale of 10 crores equity shares (3.92 per cent of the bank's equity share capital) triggered by an invocation of pledge on the equity shares of a large stakeholder," it had said in a filing to the stock exchanges.
With this sale, the entire pledge stands extinguished and all sale under the same duly completed, it added. Markets were closed on Wednesday.