Yes Bank investors got richer by a third in April alone as the bank continues to see growth in loans and deposits

• Shares of Yes Bank had a tremendous rally in April, rising by a third since the start of the new fiscal year.
• In addition to continued growth in deposits and advances, the bank also saw an improvement in its rating, giving its shares a boost.
• Here’s everything you need to know about rally triggers in Yes Bank‘s actions.

Yes Bank investors who have maintained faith in the lender over the past year finally have cause to celebrate, after growth returned to the bank, leading to a 32% rise in the share price of Yes Bank. the company this month.

Until the end of March this year, shares of Yes Bank saw volatility before rising again in April.

In its quarterly activity update, Yes Bank revealed that its deposits increased by 21%, suggesting that confidence is returning to its customers. Apart from this, advances from the bank also increased by 9%.

Ratings enhance another trigger behind Yes Bank’s rise

In addition to the increase in loans and deposits, shares of Yes Bank were helped by an improvement in the rating of CARE. Yes Bank’s debt and bond ratings were upgraded one notch above from BBB+ to BB+ with a positive outlook.

The agency cited stabilization of the bank’s operations and business growth as the two reasons for the upgrade.

“The review of the ratings assigned to Yes Bank’s debt instruments takes into account the continued demonstration of the stabilization of operations and the growth of the bank’s activities, i.e. advances as well as deposits,” said said CARE Ratings in its upgrade.

Technical analysts suggest that the new support level for Yes Bank is around ₹13 per share, and if it manages to break through ₹15.50-16, the stock may experience a breakout with an upside target of 19- ₹20.

ICICI Securities analysts recommend a “hold” rating on the stock.

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