Yes Bank shares post biggest intraday gain since November 1, soar nearly 8% as ICRA retains rating

Shares of private lender Yes Bank soared as much as 7.6 percent to Rs 205.50, registering biggest intraday percentage gain since November 1, after ICRA retained its issuer ratings. The credit rating agency retained its overall long-term issuer ratings for the lender at AA+, with a rating ‘watch’ with developing negative implications, Yes Bank said in the exchange filing on Saturday.

The stock closed at Rs 191.30 on Friday. The shares of the private lender are trading at Rs 203.10, up 6.17 percent on BSE at the time of reporting.

ICRA takes note that there has been no adverse impact on the lender’s deposit base and liquidity profile, post recent developments, the filing said. The Yes Bank shares down 39.4 percent this year.

Earlier on Thursday, Yes Bank shares slipped by 7 percent after former bureaucrat Ashok Chawla resigned as non-executive chairman of the bank a day before. Chawla offered to quit as controversy was being generated on his continuance on the Board of Directors following his name appearing in a CBI chargesheet in the Aircel-Maxis case, PTI reported on Wednesday citing sources. Following the report of Chawla’s exit, the bank’s shares slipped over 9 percent to hit the day’s low at Rs 202.25, diving to their lowest level since November 1.

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