The YES Bank share price rose in trade today after global financial services firm CGS-CIMB Securities upgraded the stock to buy and raised its target price. YES Bank share price rose 3.07% to 238.30 compared to the previous close of 231.20 on the BSE. The YES Bank share price has gained 4.10% in last two days.

YES Bank share has lost 25% in one year and gained 30.65% since the beginning of this year.

YES Bank share price was trading above its 50-day and 200-day moving average of 200 and 230 levels, respectively.

30 of 46 brokerages rate the stock "buy" or 'outperform', 11 "hold", three "underperform" and two "sell", according to analysts' recommendations tracked by Reuters.

Global financial services firm CGS-CIMB Securities said concerns over asset quality and top management have decreased. Additionally, NIL divergence report of RBI and appointment of MD & CEO will result in a re-rating since valuations are attractive at 1.5 times FY20 forward Price to earnings /book value. The firm raised the target price of the stock to Rs 300 from Rs 230.

On February 14, the RBI cleared the bank of any disparity in reporting of the bad loan data. The Reserve Bank of India (RBI) assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes.

"As part of this process, Yes Bank has received the risk assessment Report for 2017-2018. The report observes NIL divergences in the bank's asset classification and provisioning from the RBI norms," the bank said.

Later, RBI warned YES Bank of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause. Following the announcement by the private lender on February 14, that the RBI's Risk Assessment Report (RAR) had not found any divergence in asset classification and provisioning for 2017-18, the stock price for the bank skyrocketed 30 per cent.

On February 15, the bank disclosed the RBI had criticised the lender saying it was an attempt to "mislead the public" and the RAR had "identified several other lapses and regulatory breaches".

The stock exchanges sought clarification from the bank regarding the Risk Assessment Report for FY18 since it led to a huge rise in stock price of the lender.

YES Bank clarified the information received under RAR regarding "divergence" was an Unpublished Price Sensitive Information (UPSI), which could be misused or leaked.

Regarding the report, the bank stated it had not indulged in any sort of misrepresentation, and that no misleading information was provided to the stock exchanges and the investors.

"The bank has not made any undue advantage or benefit by disseminating the UPSI. Hence, we humbly submit that the Bank has not misrepresented or mislead the stock exchanges/investors in terms of Regulation 4(1)(c) of Listing Regulations," it said to the NSE.

Other banking peers also submitted the information pertaining to 'divergence' to the stock exchanges along with their quarterly results ahead of finalisation of their annual results, YES Bank added.