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YES Bank share gains nearly 5% on rating upgrade by CRISIL, Ind-Ra

Following the updates, YES Bank stock opened at Rs 15.12 and touched an intraday high of Rs 15.41, rising 4.75% against the previous close of Rs 14.71 on BSE. The stock price of Yes Bank also hit a low of Rs 14.91 intraday

twitter-logoBusinessToday.In | August 28, 2020 | Updated 17:13 IST
YES Bank share gains nearly 5% on rating upgrade by CRISIL, Ind-Ra
The stock price of Yes Bank has risen 26% in one month

YES Bank share price rose almost 5% in Friday's early trade after rating agencies CRISIL and India Ratings (Ind-Ra) upgraded Yes Bank's infrastructure bonds and other papers on the back of improvement in its funding and liquidity profile recently.

Following the updates, YES Bank stock opened at Rs 15.12 and touched an intraday high of Rs 15.41, rising 4.75% against the previous close of Rs 14.71 on BSE. The stock price of Yes Bank also hit a low of Rs 14.91 intraday.

YES Bank stock price is trading higher than 20-day moving averages but lower than 5, 50, 100 and 200-day moving averages. The stock price of Yes Bank has risen 26% in one month.

Market capitalisation of the firm stood at Rs 38,384 crore as of today's closing session. The stock has risen 2.39% returns in the last 2 days.

CRISIL upgraded the bank's rating on Rs 20,000 crore certificates of deposit to A2-plus from A2 besides reaffirming its BBB/Stable rating on the private lender's tier two bonds under Basel III and infrastructure bonds.

CRISIL said the "upgrade in short-term rating reflects an improvement in funding and liquidity profile of the bank with a gradual increase in its deposit base as well as sizeable capital raised recently".

Ind-Ra also revised the bank's long-term issuer rating to BBB from BB-(minus) while resolving the rating watch evolving. Ind-Ra also said that multi-notch upward revision and the resolution of rating watch manifest considerable progress in the bank's profile as well as operating metrics after its reconstruction in March (2020).

YES Bank shares closed 2.11% higher at Rs 15.02 apiece on BSE.

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