YES Bank shares rose 8.5% to Rs 26.95 on the BSE in Wednesday’s intra-day trade, increased by heavy volume, following global rating agency Moody’s updated its outlook on the Indian private sector lender from “stable” to “positive” on expectations of a gradual improvement in its depositor base and lending franchise. This will assist to boost its core profitability over the next 12-18 months.
When the market opened at 09:35 am, YES Bank was up 6.6% at Rs 26.61, while the BSE Sensex was down 0.1%. High volumes were seen at the counter, with a total of 257.52 million shares traded on the BSE and NSE.
On July 10, Moody’s Ratings (Moody’s) said that it had confirmed Yes Bank’s Ba3 ratings and had upgraded the rating outlook from stable to positive.
As of 10:19 am, YES Bank shares were trading 5.69% higher at ₹26.36.
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