Shares of YES Bank jumped over 7 percent after global ratings agency Moody’s revised its outlook to ‘positive’ from ‘stable’. This change reflects optimism about improvements in the bank’s depositor base and lending franchise.
Moody’s positive outlook is based on the improvement in YES Bank’s asset quality and capitalisation over the past 2-3 years.
So far this year, YES Bank’s stock has rallied over 24 percent, outperforming the benchmark Nifty 50 index, which rose by 11 percent during the same period. Earlier, YES Bank had touched a 52-week high of Rs 32 per share on February 9, 2024.
As of 11:25 AM the shares were trading 5% higher at ₹26.23.
