Shares of Yes Bank Friday rose nearly 3 percent after the company said Ravneet Gill has taken charge as MD and CEO with immediate effect for a tenure of three years.

The stock gained 2.68 percent to close at Rs 237.40 on BSE. During the day, it surged 3 percent to Rs 238.35.

On the NSE, shares went up 2.48 percent to close at Rs 236.90.

On the traded volume front, 35.43 lakh shares were traded on the BSE and over 4 crore units on the NSE.

"Ravneet Gill has joined Yes Bank as MD and CEO today. His tenure as approved by RBI is 3 years from the date of his joining, i.e. March 1, 2019, to February 28, 2022," Yes Bank said in a regulatory filing.

The appointment of Gill will be subject to the approval of shareholders' at the ensuing annual general meeting of the bank to be held in June 2019.