YES Bank gains 3% post SEBI's approval to launch mutual fund business
.jpg)
Shares of YES Bank were trading 3% higher at Rs 346 per share on the BSE after the bank said that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its mutual fund business.
YES Bank was the top gainer among the S&P BSE Sensex and Nifty 50 stocks at 09:58 am.
"YES Asset Management (India) Limited ('YAMIL') will leverage YES Bank's knowledge banking expertise and relationship capital across retail, corporate and institutional investors to effectively channelize their assets in equity and debt capital markets,” said Rana Kapoor, Managing Director & CEO, YES Bank.
This strategic initiative will further complement YES Bank's retail liabilities and wealth management strategy, and also allow YAMIL to build on the Bank's 'DIGICAL' distribution network to provide customers a seamless Investment and Banking experience, added Rana Kapoor.
YES Bank has also recently received the final license from SEBI to launch its Custodian of Securities business.
Till 09:58 am; the counter has seen huge trading volumes with a combined 5.5 million shares changed hands on the BSE and NSE so far.
Other Latest News
.webp)
The Supreme Court on Tuesday pulled up the Uttarakhand State Licensing Authority for inaction in the misleading advertisements case involving Patanjali Ayurved Limited.
Expressing dissatisfaction over the explanation offered by the body, a bench of Justice Hima Kohli and Justice Ahsanuddin Amanullah observed it appeared that the licensing authority got activated to take action in accordance with the law only after the apex court's April 10 order.
.webp)
Samajwadi Party MP Dimple Yadav has said India will go back 15 years if the BJP wins the Lok Sabha polls, accusing the party of practising "divisive politics" to divert attention from real issues.
In an exclusive interview with PTI, Dimple Yadav, who is aiming to carry forward the legacy of her father-in-law and SP patriarch late Mulayam Singh Yadav by retaining the Mainpuri seat, asserted that the people are going to vote for change this time.
.webp)
Microsoft will invest $1.7 billion over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.
Jakarta is Nadella's first stop on a trip to Southeast Asian countries aimed at promoting the US company's generative AI technology. He will go to Malaysia and Thailand later this week.
.webp)
JNK India stock made a strong market debut on Tuesday with its shares getting listed at Rs 621, a 50 per cent premium over its issue price of Rs 415 per share on the National Stock Exchange (NSE). Post listing, the stock moved to an intraday high of Rs 665, 60 per cent up over issue price.
At 10:02 am, JNK India stock was trading at Rs 651, 57 per cent higher than issue price, with around 6.19 million equity shares changing hands on the NSE, data shows.
.webp)
HSBC said on Tuesday its Chief Executive Noel Quinn will retire - a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.
The bank said it has launched a formal process to find a successor.
.webp)
.webp)
.webp)
.webp)
.webp)
