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.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more