Yes Bank Shares Rise After RBI Clears SMBC Stake Purchase; SEBI RA Sees Breakout Beyond ₹22

SBI, along with private lending giants including Axis Bank and ICICI Bank, are set to dispose Yes Bank stake

Shares of Yes Bank gained as much as 4.8% on Monday, after the Reserve Bank of India approved Sumitomo Mitsui Banking Corporation’s (SMBC) proposal to acquire up to 24.99% stake in the Indian private lender.

The stock has since pared some gains and is currently trading 2.3% higher at ₹19.72.

SMBC’s Acquisition Proposal  

Yes Bank first disclosed the proposed acquisition by Sumitomo Mitsui Banking Corporation (SMBC) in May. Under the plan, SMBC aimed to acquire a 20% stake in the bank through a secondary share purchase, including 13.19% from the State Bank of India and a combined 6.81% from seven other shareholders — Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.

Technical Outlook

Yes Bank shares saw a mild recovery, closing the week at ₹19.25. However, the stock continues to trade below its 50-day and 200-day moving averages, indicating a bearish to sideways trend, said SEBI-registered analyst Deepak Pal.

The stock’s relative strength index (RSI) at 49 places it in the neutral zone with no clear overbought or oversold signal. The moving average convergence/divergence (MACD) remains negative but is beginning to show signs of convergence, which could point to an early trend reversal if buying interest sustains, Pal said.

Meanwhile, the Parabolic SAR continues to place dots above the price, indicating the persistence of downward pressure.

Key support levels are at ₹18 and ₹17.50, while resistance is seen between ₹20.50 and ₹22, Pal added. A breakout above ₹22 may trigger fresh buying momentum.

Retail Buoyant

Retail chatter was ‘high’ on Stocktwits, as sentiment turned ‘bullish’ from ‘neutral’ a day earlier.

Over the past six months, Yes Bank shares have gained over 10%.

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