What to do with Yes Bank stock? Anil Singhvi tells investors not to panic, explains strategy

One of the most talked about stocks in recent times has been Yes Bank. The shares that have been purchased during the recently concluded Follow-on Public Offer (FPO), are likely to be issued soon by the company. The stock has been trading down today by 5-6 per cent and the circuit has also been revised downwards from earlier 20 percent to 10 per cent now. What all is happening with this stock is a big question in the minds of investors? Zee Business’ Sandeep Grover brings a complete details for channel viewers.

Yes Bank shares purchased during the FPO may hit the markets by Monday (27 July), Grover told Zee Business Managing Editor Anil Singhvi.

Watch Zee Business Tweet Video Below:

यस बैंक ने FPO शेयरों पर क्या दी सफाई?
निचले सर्किट के बाद शेयर में कहां से आई रिकवरी?
अनिल सिंघवी से समझिए यस बैंक में अब क्या हो आपकी स्ट्रैटेजी? #YesBank #FPO @AnilSinghvi_ pic.twitter.com/ZvOZgxMguc

— Zee Business (@ZeeBusiness) July 24, 2020

 In a board meeting, which took place yesterday, an approval for allotment of shares has been given, he said. The board has given approval for allotment of Rs 1250 cr shares of this FPO. The buyers of this stock may even see the stock getting reflected in their Demat accounts by today. The shares could be allotted through a new ISIN code, he further said.

There is still no clarity if the shares will hit the markets on Monday, but they have already been allotted, Grover said.

Anil Singhvi explains what to do with the stock.

The Market Guru said that Zee Business had previously advised investors to sell their old holdings and buy from the FPO. That would have given bumper returns to investors. At the time of FPO, the Yes Bank shares were already trading around Rs 25. The shares were available at Rs 12 during the FPO. There was an opportunity to sell the shares around Rs 20-21 and buy them at Rs 12.
 
The prices were bound to come down and many investors are panicking and looking to sell shares.

See Zee Business Live TV Streaming Below:

He has asked investors not to panic as the bank is in much better shape now and the balance sheet is getting cleaner now. It should be left as an investment now. He further advised investors to look for reasonable returns.