Home >Markets >Stock Markets >Yes Bank share gains 9.83% in early trade, up 23% this week

Yes Bank shares rose over 9.83% in early trade on Wednesday. At 9:58 a.m., the shares were trading at 19.00. Yes Bank shares jumped 9.5% on Tuesday to close at 17.30. The share of the troubled bank hit its upper circuit following reports that the stock will be upgraded to large cap category from mid cap by mutual fund industry body. ICICI Securities expects 4-5 switches between large caps and mid caps. According to their list, there is a high probability for Yes Bank to switch from mid cap to large cap category. With an average market cap of 333 bn, Yes bank holds 88th rank in the Indian stock market. Yes bank share has gained 23% since the beginning of this week.

By 5th Jan’21, the Association of Mutual Funds in India (Amfi) is expected to release a fresh list for categorisation of stocks into large caps, mid caps, and small caps, based on average market cap for H2CY20.

Yes bank share price closed at 15.35 on Friday last week.

Brickwork Ratings has upgraded the rating of Tier I Subordinated Perpetual Bonds (Basel II) of Yes Bank Limited to BWR BB+/ Stable. The upgrade factors in improvement in capitalisation ratios of the bank, strong shareholder base and experienced board members, the ratings agency said.

The private sector lender on Tuesday said it has launched Yes Private Prime Credit Card for India's affluent and ultra high networth individual.

The product is thoughtfully curated to provide a differentiated offering with global privileges and experiences across travel, lifestyle, hospitality, dining, entertainment and wellness, among others, Yes Bank said in a release.

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