Yes Bank shares trim most of sharp early gains; close nearly 7 pc higher

Shares of Yes Bank on Thursday trimmed most of its sharp early gains and closed nearly 7 per cent higher.

Yes Bank had zoomed 20 per cent in early trade after the company reported a net profit of Rs 2,629 crore for the March quarter.

The stock closed the day with a gain of 6.83 per cent at Rs 28.15 after a jump of 19.92 per cent to Rs 31.60 during the day on the BSE.

It ended at Rs 28.05, up 6.65 per cent on the NSE after rallying 19.96 per cent to Rs 31.55 during the session.

In terms of volume, 74.74 lakh shares were traded on the BSE during the day, while 9.96 crore shares changed hands on the NSE.

The bank on Wednesday reported a net profit of Rs 2,629 crore for March quarter, helped by a massive gain of over Rs 6,200-crore arising out of a controversial write-off of bond investors' investment.

If the one-off gain is excluded, then the bank, which was bailed out by a consortium-led by State Bank of India (SBI) in March, has a loss of Rs 3,668 crore in the quarter under review.

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