Business
Yes Bank Rises 2% After CCI Nod For Sumitomo Mitsui’s 25% Stake Buy
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Yes Bank shares rose after the CCI approved Sumitomo Mitsui Banking Corporation’s plan to acquire up to a 25% stake in the lender.
Yes Bank SMBC Deal
Yes Bank Shares Rise: Shares of Yes Bank gained 2 per cent to Rs 20 on September 3 after the Competition Commission of India (CCI) approved Japan’s Sumitomo Mitsui Banking Corporation’s (SMBC) plan to acquire up to 24.99 percent in the private sector lender.
In its release, the CCI confirmed that the deal “relates to the acquisition of share capital and voting rights of Yes Bank by Sumitomo Mitsui Banking Corporation.” SMBC, a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), is Japan’s second-largest banking group with total assets of around $2 trillion as of December 2024 and a significant global footprint.
This clearance follows the Reserve Bank of India’s (RBI) approval last month for SMBC’s proposal to pick up nearly a quarter of Yes Bank’s equity. The transaction originates from Yes Bank’s May 9, 2025, announcement that SMBC would acquire a 20 per cent stake via a secondary purchase. The deal involves buying 13.19 percent from the State Bank of India (SBI) and 6.81 per cent collectively from seven other lenders, including Axis Bank, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank, and IDFC First Bank.
Once completed, the transaction will make SMBC the single-largest shareholder in Yes Bank, marking a significant milestone in the bank’s turnaround journey following its restructuring in recent years. Market participants see the entry of a global player like SMBC as a boost to Yes Bank’s capital strength and credibility.
In a separate development, the RBI has cleared the reappointment of Rama Subramaniam Gandhi as part-time Chairman of Yes Bank. Gandhi, a veteran central banker with 37 years of experience, previously served as RBI Deputy Governor between 2014 and 2017. His new tenure will run from September 20, 2025, to May 13, 2027.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India
Gold price prediction today: Gold prices will closely track movements on the rate decisions by several central banks, including the US Federal Reserve, this week, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold is currently consolidating after sharp swings in a broad range, indicating a pause rather than a reversal. Price action shows a higher-high structure intact, but the recent sideways movement suggests indecision near the upper supply zone around 158,000–160,000. The formation resembles a short-term flag/triangle continuation pattern, where a breakout on either side will define the next directional move. Volume has tapered slightly, reinforcing the consolidation narrative.Gold prices recently moved from the upper band toward the mid-band (20 DMA), and are now attempting to stabilize. The bands have started to contract, signaling a potential volatility expansion ahead. Sustaining above the mid-band (~150,500–151,000 zone) keeps bullish bias intact, while a breakdown below this could trigger a deeper mean reversion toward the lower band.For the week, immediate support for gold prices is placed at around Rs 150,500, which is followed by stronger support near Rs 148,500. On the upside, the resistance stands at around Rs 155,500, and after that the key supply zone is at Rs 158,000. A decisive close for gold above Rs 158,000 levels can then resume the broader uptrend. However, a break in gold prices below levels of Rs 148,500 may shift the momentum to bearish in the near term.The economic docket is filled with data points and events this week as the focus will be on FED, BOJ, ECB and ECB policy meetings. US consumer confidence, GDP, inflation and durable goods orders data will also be in radar.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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