QUICK TAKE: YES BANK STOCK SURGES ON STABLE OUTLOOK

YES Bank is up 14.2% over two days, including 12.9% on Tuesday on heavy volumes. The gains follow rating agency ICRA on Sept 9, affirming the lender’s instruments with a stable outlook, factoring in steady gr- owth in the deposit franchise since YES Bank’s reconstruction scheme and consequent improvement in liquidity. While deposit growth has been appreciable, wholesale deposits’ share remains relatively high.