Shares of Yes Bank rose as much as 3.22 per cent in early morning trade on Wednesday.
The stock of the private bank had risen 3.22 per cent to Rs 75.35 on the BSE while on the National Stock Exchange (NSE), the stock gained 3.15 per cent to Rs 75.30 in the early trade on Wednesday.
However, the stock later pared most of its gains and was trading a tad up late morning deals. At 10:49 am, the scrip was at Rs 73.25, up by Rs 0.25 or 0.34 per cent on the BSE while on NSE it was trading at Rs 73.20, up by Rs 0.20 or 0.27 per cent.
Over 12.63 crore shares of Yes Bank across BSE and NSE were traded so far on Wednesday.
In a recent result update, Geojit Financial Services has suggested a “Reduce” rating on the stock with a target price of Rs 61 per share. “We remain cautious on the bank’s growth prospects on account of the rise in credit costs, increase in slippages and declines in loan book,” the brokerage firm said in a report.