Why did Yes Bank shares rally 6%, extend winning streak to 3rd day and snap a 7-week losing run — what led to rebound?

Yes Bank reported ₹8,415 crore, with movement of 6% and 14% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is +5.9% on the day at ₹17.20, and has returned -24.2% over three months. It sits 32% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -2.8% over the same period, so Yes Bank is running 21.4 points behind its peers.

For Yes Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.