There is an atmosphere of tension between India and Pakistan, which has been seen on the stock markets of both India and Pakistan. On the last day of trading on Friday, the Sensex, the major index of the Indian stock market, broke around 880 points. At the same time, trading was stopped in Pakistan. However, there was a good news for Yes Bank in the country, after which its stocks saw a jump of about 10 percent. Let us know what is the news related to Yes Bank, which can make a big money from investors.
In fact, SBI has decided to sell about 13 percent stake from Yes Bank to Japanese bank. The State Bank of India said that it is selling its 13.19 percent stake from Yes Bank to Japan’s Banking and Finance Company. The Japanese Finance Corporation is buying a stock worth Rs 8,889 crore at Rs 21.50 per share. Despite the decline in the market today due to this news, the bank shares saw a rise.
Yes Bank will benefit
The SBI has decided to sell its stake to the SMBC. He is the largest finance corporation in Japan. It has business in many countries of the world including Asia. If the share of Yes Bank is with the SMBC, then the bank will get the benefit of its status. Also, apart from India, the way for opening its branch will be cleared in the rest of the world. If the scope of the bank increases, then the trend of people investing in it will also increase, which will benefit investors from good health of the bank.
How was the market on the past business day
If we talk about the week ended on Friday, then on one hand almost all the Sensex companies were diving. On the other hand, the shares of Yes Bank saw a bumper jump. After getting information about selling shares towards SBI, the shares of this bank got support and he jumped about 10 percent and closed with Rs 20. Further, there can be a stir in the shares of Yes Bank.