Yes Bank Shares Jump 10% Amid Buzz Of Taking Over Sumer Group’s Land

Shares of Yes Bank remained on the upward trajectory for the sixth consecutive day as the stock jumped as much as 10 percent in intraday trade on BSE on October 22. 

The stock was in the green amid reports that it is likely to ake over Rs 6,000 crore of land held by Sumer Group in Radius joint venture over non-payment of Rs 479 crore loan.

An Economic Times report said Yes Bank is to take control of real estate developer Sumer Group’s 50 percent share in two land parcels, totalling 6.4 acres, held by its joint venture company in Mumbai’s Santacruz locality.

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