Yes Bank continues to remain in heavy demand for 3rd day; shares zoom over 59 pc

Shares of Yes Bank continued to remain in heavy demand for the third consecutive day and further jumped over 59 per cent on Tuesday after Moody's upgraded the company's ratings.

Rising for the third consecutive day, the company's scrip zoomed 58.09 per cent to close at Rs 58.65 on the BSE. During the day, it jumped 72.91 per cent to a day's high of Rs 64.15.

On the NSE, it rose sharply by 59.29 per cent to close the day at Rs 59.10.

The scrip has jumped over 134 per cent in three days. The company's market valuation has risen by Rs 8,570.52 crore to Rs 14,958.52 crore in these three days.

In traded volume terms, 221.96 lakh shares were traded on the BSE and more than 22 crore shares on the NSE during the trade.

Yes Bank shares had on Monday also jumped sharply by over 45 per cent after announcement of a restructuring plan.

The rating agency upgraded the company's ratings and also its outlook was changed to positive.

In a filing to the BSE on Monday, YES Bank announced that the board of directors of the company has been approved for reconstitution, with Prashant Kumar, former chief financial officer and deputy managing director of State Bank of India, as chief executive officer and managing director.