Yes Bank shares close over 3 pc higher after Rakesh Jhunjhunwala buys stake

Shares of Yes Bank on Tuesday closed over 3 percent higher after ace investor Rakesh Jhunjhunwala bought nearly 1.3 crore shares of the company for around Rs 87 crore through open market transactions. The scrip gained 3.40 percent to close at Rs 68.35 on the BSE. During the day, it advanced 8.77 percent to Rs 71.90.

On the NSE, it climbed 3.25 percent to close at Rs 68.30. In terms of traded volume, 281.38 lakh shares of the company were traded on the BSE and over 29 crores on the NSE during the day.

It was the top gainer among the 30-Sensex components. According to bulk deal data available with the BSE, Jhunjhunwala purchased 1,29,50,000 shares of the private lender amounting to a 0.5 percent stake.

The shares were bought at an average price of Rs 67.1, taking the transaction value to Rs 86.89 crore, the data showed. Shares of the lender, after plunging 15 percent during the previous session on Monday, recovered most of its early losses and closed over 1 percent lower after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans.