YES Bank shares surge 3% after report of SMFG eyeing $1.1 bn investment, 5% stake buy

YES Bank shares rose over 3% on July 16 as Sumitomo Mitsui Financial Group considers a $1.1 billion investment, including acquiring $680 million in convertible bonds and a 5% stake from existing shareholders. This indicates SMFG's interest in expanding in India's banking sector.

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