YES Bank soars 96% in 2 days on Moody's ratings upgrade, positive outlook

The global rating agency Moody's has upgraded YES Bank's long-term foreign currency rating from "Caa3" to "Caa1" on bail-out package

Shares of YES Bank rallied 35 per cent to Rs 50 on the National Stock Exchange (NSE) on Tuesday in the early morning trade after the global rating agency Moody's upgraded YES Bank's long-term foreign currency rating from "Caa3" to "Caa1" on bail-out package involving fresh equity capital infusion with a positive outlook.

In the past two trading days, the stock of the private sector lender has soared 96 per cent from Rs 25.55 on Friday, after the Union Cabinet approved the reconstruction of the crisis-hit bank as per the scheme proposed by Reserve Bank of India (RBI).

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