Yes Bank has hit upper circuit after reports of LIC raising stake in the private sector lender. After facing months of uncertainty and troubles, Yes Bank has finally seen positive news.

Moody’s Investors Service has upgraded its ratings for Yes Bank’s long term foreign-currency issuer ratings to B3 from Caa1. And the outlook for Yes Bank has been changed to stable from positive.

Promoters of private lender Bandhan Bank reduced their stake by 21 percent as per RBI guidelines. The stock declined by nearly 10 percent as block deals were carried out during the trading hours.

Private banking major Yes Bank has planned to sell its AMC unit to raise funds and concentrate on its core banking business.

Yes Bank has reported 11.4 percent quarter-to-quarter increase in deposits for the quarter ending June 2020.

Troubled private sector lender Yes Bank stock started its downward journey the moment management of the bank announced pricing for follow-on public offer.