Added on : 2020-03-17 16:42:27
Shares of Yes Bank Ltd surged over 1000% from their lifetime low in seven sessions, mostly after State Bank of India, along with eight lenders, agreed to a bailout package for the private lender. The stock had hit a life time low of Rs. 5.65 a share on 6 March and since then it has surged 1001%. The scrip on Tuesday was trading at Rs. 64.90 on NSE, up 61% from its previous close. On Monday, the Reserve Bank of India assured all Yes Bank's depositors that their money is in safe hands and there is no reason to withdraw cash in panic. The assurance comes ahead of the lifting of a moratorium on Yes Bank at 6 pm on Wednesday.