Shares of Yes Bank Ltd. surged over 7% on Monday after it received Rs 150 crore from a single trust in Security Receipts Portfolio after NPA portfolio sale.
"Since this amount is more than the materiality threshold, as prescribed under the amended listing regulations, the said event, is being hereby disclosed under Regulations 30 of listing regulations," an exchange filing said on Sunday.
On Dec. 17, 2022, the lender sold its NPA portfolio to JC Flowers ARC.
Shares of the bank rose as much as 7.23%, the highest level since Dec. 19, before paring gains to trade 5.1% higher as of 10:40 a.m. This compares to a 0.04% decline in the NSE Nifty 50.
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The stock has risen 5.36% year-to-date. Total traded volume so far in the day stood at 2.3 times its 30-day average. The relative strength index was at 66.7.
Of the 13 analysts tracking the company, four recommend a 'hold,' and nine suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 32.2%.
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