Friday, November 30, 2018

Yes Bank gains on short covering, management clarification

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Yes Bank gained 6% and closed at Rs 170.50 in today's trade.  Short covering and management clarification certain issues helped the stock scale up to Rs 170 level.

The bank's management has clarified its stance on ownership in Morgan Credits, exposure to developers and current financial situation of the lender. Rana Kapoor doesn't have any ownership in Morgan Credits or Yes Capital. 

Expect the stock to gain 15-20% in next week trade.

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