Shares of Yes Bank soared 7 percent in morning trade as
investors reacted to reaffirmation of its rating by ICRA.
The stock touched an intraday high of Rs 204.50 and an
intraday low of Rs 194.55.
The lender informed stock exchanges that ICRA had retained
its overall long term issuer ratings at AA+ with a rating watch with developing
negative implications.
“The agency takes note that there has been no adverse impact
on Yes Bank’s deposit base and liquidity profile post recent developments,” it
said in a filing to exchanges.
The stock was in the news recently after the search panel
entrusted with finding Rana Kapoor's successor to lead Yes Bank has shortlisted
multiple names, including those serving a foreign as well as domestic lenders,
PTI reported quoting sources.
Veteran banker OP Bhat, one of the two independent members
of the search and selection committee, had resigned November 15 over potential
conflicts of interest.
Bhat's resignation came a day after non-executive chairman
of the bank Ashok Chawla, a former finance secretary and a past chairman of the
fair trade body Competition Commission and the telecom watchdog Trai, suddenly
resigned after his name cropped up in the Aircel-Maxis corruption case, being
probed by the CBI.
The stock has fallen 19 percent in the past one
month, while in the past three days, it fell 9 percent. At 10:00 hrs, Yes Bank
was quoting at Rs 202.40, up Rs 11.10, or 5.80 percent, on the BSE.
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