Yes Bank rose 1.99% to Rs 588 at 13:10 IST on BSE after the bank said it has received ratings upgrade from ICRA for the bank's various long term debt programmes.
The announcement was made during trading hours today, 17 September 2014.
Meanwhile, the S&P BSE Sensex was up 105.75 points or 0.4% at 26,598.26.
On BSE, so far 2.48 lakh shares were traded in the counter as against average daily volume of 3.17 lakh shares in the past one quarter.
The stock hit a high of Rs 593 and a low of Rs 571.65 so far during the day. The stock had hit a record high of Rs 634.25 on 12 September 2014. The stock had hit a 52-week low of Rs 280.40 on 1 October 2013.
The stock had outperformed the market over the past one month till 16 September 2014, surging 6.71% compared with Sensex's 1.49% rise. The scrip had also outperformed the market in past one quarter, jumping 7.36% as against Sensex's 5.17% rise.
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The large-cap company has equity capital of Rs 416.10 crore. Face value per share is Rs 10.
Yes Bank said that ICRA has upgraded ratings for the bank's various long term debt programmes, with the lower Tier II bonds of the bank upgraded from ICRA AA (stable) to ICRA AA+ (stable).
The Ratings Committee of ICRA after giving due consideration to Yes Bank's financial performance and track record has upgraded the bank's long term debt programme ratings, Yes Bank said. The rating upgrades factor in Yes Bank's continued robust operating performance with its ability to maintain strong asset quality indicators through cycles, improving CASA base with increasing granularity in the liability franchise. The ratings also factor in the highly successful recent equity mobilization of $500 million by the bank that further strengthens its capitalization profile, Yes Bank said.
Yes Bank's net profit rose 9.6% to Rs 439.48 crore on 9.3% growth in total income to Rs 3105.21 crore in Q1 June 2014 over Q1 June 2013.
Yes Bank is one of the leading private sector banks in India.
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