Market analysts are of the opinion that SBI will not reduce its stake in Yes Bank.
Mumbai:
Shares of Yes Bank traded in positive territory as the shares rose 0.60 percent today as the country’s largest commercial lender’s three-year lock-in period comes to an end.
Shares of SBI rose around 0.45 per cent to Rs 563.30 in the morning, and it has gained around 7.56 per cent in five days. Shares of SBI rose 5 percent to close at Rs 561 each on Friday. Yes Bank shares gained 2.73 percent in five days.
Market analysts are of the opinion that State Bank of India will not reduce its stake in Yes Bank. In fact, other banks along with SBI invested in the private bank three years ago to help it weather the bad loan crisis.
Similarly, the three-year lock-in period of other banks like Axis Bank, IDFC First Bank, ICICI Bank, HDFC Bank and Kotak Mahindra Bank will end on March 13, 2023. Experts say that it is possible. After the end of the period, when these banks take into account the income, start selling.
According to analysts, these banks and the largest bank are likely to wait for the results of the fourth quarter (December quarter) of the financial year 2022-23 (FY23).
These banks may wait until then to book profits and reduce some of their holdings in the Mumbai-based private lender, according to them.
(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)
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