Yes Bank hits news highs consistently

Yes Bank has been hitting a new 52-week high every single day of the week, starting from 10^th April. Today too, it hit a new high at Rs.1638 and currently seems to be tethering to stay in the green.

The only reason why the stock is hitting new highs and this is purely on research reports being put out by brokerage house, CLSA.

In its report, CLSA raised the profit estimates by 6 to 7% and also increased the target price of the stock from earlier Rs.1780 to Rs.1920.

CLSA has maintained its BUY call on the stock and attributed this optimism to its recent raising of funds - $750 million and this, CLSA expects that the profit will go up by 6 to 7% in FY19.