Yes Bank gains 4.3% on likely Eveready deal with Duracell

Mumbai: Shares of Yes Bank rose 4.30 per cent on Monday on an ET report that Duracell Inc is set to acquire Eveready Industries’ battery and flashlight business for Rs 1,600-1,700 crore. The private lender owns a 9 per cent stake in Eveready Industries.

Yes Bank shares gained Rs 2.60 to close at Rs 63 on the NSE on Monday.

Yes Bank had acquired the stake in July by invoking pledged shares following a loan default by McLeod Russel, which had put up Eveready shares as collateral.


Eveready and McLeod Russel are part of the BM Khaitan Group of companies.

Shares of Eveready Industries fell 5 per cent on Monday to close at Rs 70.50. The market value of the battery-maker, which was Rs 1,600 crore earlier this year, has eroded 67 per cent to Rs 512 crore.

Yes Bank had recently raised over Rs 1,900 crore through a qualified institutional placement (QIP).