YES Bank hits new high; rallies 15% in 9-days on SEBI nod to launch MF biz

Shares of YES Bank hit new high of Rs 386 per share, rising 2% on the BSE.

Shares of YES Bank hit a new high of Rs 386 per share, rising 2% on the BSE, and moving higher for the ninth straight trading session after the bank said that it has received approval from capital markets regulator SEBI to start mutual fund business. The stock surpassed its previous high of Rs 385 recorded on July 12, 2018 in intra-day trade.

“This approval is subsequent to the Reserve Bank of India’s (RBI) approval granted to Yes Bank to sponsor a mutual fund followed by SEBI’s in-principle approval received subsequently,” the bank said in a statement on July