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YES Bank Hits 5% Upper Circuit as CARE Upgrades Rating

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Yes Banks share price hits 5% upper circuit yesterday as well as today that is 10th November 2020. The CARE has upgraded the bank’s debt instruments rating. This news brought a nice hope of a comeback to the brave shareholders of Yes Bank. The Yes Bank is locked in 5% upper circuit today at Rs. 13.50 in NSE.

CARE has revised Yes Bank’s infrastructure bonds rating to ‘CARE BBB’ from previous ‘CARE B’. CARE also revised its outlook to ‘Stable’ on Yes Bank from previous “Under Credit watch with Developing Implications”.

Yes Bank Rating Upgrade

CARE Ratings said, “The revision in the ratings assigned to the debt instruments of Yes Bank Limited (YBL) factors in the improvement in the credit profile of the bank post the implementation of the reconstruction scheme announced by the Reserve Bank of India (RBI) and approved by Government of India (GOI) from March 2020. The reconstruction scheme for YBL has brought about strong systemic support to the bank by various market participants including GOI, RBI and SBI acting in order to protect the depositors’ money by way of providing capital support, liquidity support and reconstitution of the board of directors for better governance.”

The Yes Bank is getting back to track and expecting to overcome all its shortfalls and rise high again. For more news and updates about the Indian Stock Market Join our Exclusive Facebook Group.

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Abhishek Vohera

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