Yes Bank shares zoom over 8% on fund raising plans; lender's market-cap rises by Rs 1,238 cr

New Delhi: Shares of Yes Bank jumped over 8 percent on Wednesday ahead of its board meeting later this week to consider raising of funds. The scrip advanced 7.65 percent to close at Rs 68.25 on the BSE. During the day, it zoomed 8.59 percent to Rs 68.85. [caption id=“attachment_5595711” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] On the NSE, it climbed 8.31 percent to close at Rs 68.40. The stock was the top gainer on the BSE Sensex and NSE Nifty during the trade. Led by the rally in the scrip, the company’s market valuation rose by Rs 1,237.97 crore to Rs 17,406.97 crore on the BSE. In a filing to the BSE on Tuesday the company said, “notice is hereby given that a meeting of the board of directors of Yes Bank will be held on Friday, 29 November, 2019 at Mumbai, inter alia, to discuss and consider raising of funds by issue of equity or equity-linked securities through permissible modes, subject to necessary shareholders or regulatory approvals, as applicable.” On traded volume terms, 213.13 lakh shares of the company were traded on the BSE and over 25 crore units on the NSE during the trade.