YES Bank surges 9% amid reports of DHFL's big deal
Updated : July 22, 2019 03:11 PM IST
YES Bank shares gained on Monday amid Economic Times report that Dewan Housing Finance Limited is likely to announce a deal with investor Aion Capital for a majority stake in the housing finance company.
At 2:15 pm, the share price was at Rs 88.35 per share on the NSE, higher by 6.13 percent. Intraday, the stock was trading over 9 percent to it's day's high at Rs 90.95.
According to the report, the deal would lead to an infusion of $1.5 billion into the debt-ridden firm. After this infusion, DHFL promoters' family stake will likely come down to 10 percent.