Yes Bank shares rebound despite ratings downgrade

Yes Bank shares rebound despite ratings downgrade

Reuters photo

Shares of Yes Bank on Thursday bounced back and closed up to 7% higher after losing over 3% during the day.

India Ratings and Icra downgraded the bank’s ratings on uncertainty regarding the lender’s fund raising plans on Thursday.

The stock closed 6.74% higher at Rs 49.90 on the BSE. Intra-day, it traded between a low of Rs 45 and a high of Rs 51.40 per unit.

On the NSE, the scrip rallied 6.52% to Rs 49.80. During the day, it traded between Rs 44.95 and Rs 51.40 on Thursday.

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