The mystery behind surreal gain in crisis-hit YES Bank's stock price

Rs 10K-cr infusion, lock-in and hurried short-covering led to 2.3x surge in the stock

Shares of YES Bank have jumped 2.3 times in just two trading sessions, from Rs 25.5 on Friday to Rs 58.7 on Tuesday. This despite the benchmark Nifty nosediving 10 per cent during the same period.

So what explains the surreal gain in the troubled private sector lender’s stock price?

First, the Rs 10,000-crore infusion from a clutch of marquee financial institutions, including State Bank of India (SBI), ICICI Bank, and HDFC, as part of the restructuring plan. With noteworthy domestic investors pumping money into the beleaguered bank and the moratorium on the lender to be lifted Wednesday evening, global rating firm