YES Bank, Shriram Transport shrug off rating downgrades, advance up to 7%

Shares of YES Bank and Shriram Transport Finance Company rallied up to 7 per cent on the BSE on Friday despite being downgraded by rating agencies. 

YES Bank climbed 10 per cent to Rs 53.50 from its early morning low of Rs 48.50 on the BSE. With today’s gain, the stock of private sector lender has bounced back 19 per cent from its Thursday’s low of Rs 45. A combined 285 million equity shares, representing 1 per cent of total equity of YES Bank, changed hands on the NSE and BSE till 02:08 pm. In comparison, the S&P BSE