Angel broking on announcement : SBI clears plan to put Rs 7,250 crore in Yes Bank

Mr. Jaikishan Parmar, Sr Equity Research Analyst, Angel Broking Ltd.

"The equity Infusion worth of Rs. 7,250cr by SBI and some of the top-notch private sector bank, marquee investor to infuse approx 5,000cr. And PSU banks also will bring bulk deposit. Above both steps would be a confidence booster for the depositor and all stakeholders. Now finally everything depends on when the bank will operate without a moratorium. If a new consortium began a normal business earlier than stated, that would be the final assurance. We expect bank in near future would require 15000cr - 17000cr in the near team considering, Yes bank BB& below (Sub investment grade) book stood at 31,400cr and other below-grade exposure would be around Rs. 10,000 crore (beleaguered Telecom & Real-estate) as on Q2FY2020."

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.242.25 as compared to the previous close of Rs. 212.75. The total number of shares traded during the day was 7737989 in over 65054 trades.

The stock hit an intraday high of Rs. 248.95 and intraday low of 184.25. The net turnover during the day was Rs. 1752028667.

Source : Equity Bulls

Keywords