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Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
01 July, 2025 12:06 IST
Yes Bank shoots up 10% after Brickwork Ratings upgrades rating
Source: IRIS | 09 Dec, 2020, 01.43PM
Rating: NAN / 5 stars.
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Shares of Yes Bank hits upper circuit of 10% in the noon trade on Wednesday after the bank announced that Brickwork Ratings has upgraded the rating of Tier I Subordinated Perpetual Bonds (Basel II) from BWRD to BWR BB+/ Stable. Brickwork Ratings (BWR) upgrades the rating of Tier I Subordinated Perpetual Bonds (Basel II)to BWR BB+/ Stable from BWR D of Yes Bank Limited (YBL or the bank). The rating upgrade factors in improvement in capitalisation ratios of the bank, strong shareholder base and experienced board members.

"The bank has a strong shareholder base with State Bank of India holding 30% stake as on Sept.30, 2020 and the bank has an experienced board of directors with Prashant Kumar as the managing director and chief executive officer (MD & CEO)," stated Brickwork Ratings.

The rating is however constrained by the weak asset quality, impacting the profitability and moderate resource profile of the bank. The gross non-performing assets (NPAs) and net NPAs stood at 16.9% and 4.7% respectively as on Sept.30, 2020. The ability of the bank to control slippages on account of COVID-19 related stress is a key monitorable, it said.

Shares of Yes Bank  are trading at Rs 19.06, up Rs 1.73, or 9.98%  at the Bombay Stock Exchange (BSE) on Wednesday at 12:16 p.m.

The scrip has touched an intra-day high of Rs 19.06 and low of Rs 18.03. The total volume of shares traded at the BSE is 97,126,713.In the earlier session, the shares rose 9.96%, or Rs 1.57, at Rs 17.33.

Currently, the stock is trading down  78.33% from its 52-week high of Rs 87.95  and above 243.42% over the 52-week low of Rs 5.55.



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