YES Bank up 11%, hits 52-week as CARE Ratings upgrade outlook to 'positive'

The ratings agency upgraded the outlook to 'positive' on account of stable growth in deposits and advances

Shares of YES Bank surged 10.6 per cent to Rs 16.25 per share, hitting 52-week high in an otherwise weak market, after ratings agency CARE Ratings upgraded infrastructure, lower tier-2, and upper tier-2 bonds to positive. In comparison, S&P BSE Sensex was down 0.78 per cent at 59, 146 points as of 11:00 am. 

YES Bank's stock price has zoomed over 22 per cent in the past five trading sessions. With today’s gains, the shares have climbed over 49 per cent so far this April as against 1 per cent gain in BSE S&P Sensex. 
 

The ratings agency upgraded