Yes bank stock hits record high on 32% increase in q1 net

YES Bank stock hits record high on 32% increase in Q1 net

STOCK MARKET - YES Bank surged 4.48 per cent to Rs 1,789.35 at 14:10 IST on BSE, with the stock extending Wednesday's rally triggered by a good Q1 result.

Meanwhile, the S&P BSE Sensex was up 157.78 points or 0.49 per cent at 32,540.24 On the BSE, 6.28 lakh shares were traded on the counter so far as against the average daily volumes of 2.47 lakh shares in the past quarter.

The stock hit a high of Rs 1,796.50 in intraday trade so far, which is a record high for the counter. The stock hit a low of Rs 1,741 so far during the day. The stock had hit a 52-week low of Rs 1,091.25 on 26 December 2016.

The large-cap bank has equity capital of Rs 457.64 crore. Face value per share is Rs 10.

YES Bank's net profit rose 31.93 per cent to Rs 965.52 crore on 21.48 per cent growth in total income to Rs 5,785.96 crore in the first quarter (Q) of the current financial year (FY) over Q1FY17.

The result was announced during market hours on Wednesday when the stock gained 6.1 per cent to settle at Rs 1,712.55.

Meanwhile, YES Bank's board at its meeting held on Wednesday approved a 5-for-1 stock split of equity shares.

The bank's gross non-performing assets (NPAs) stood at Rs 1,364.38 crore as on June 30, 2017, as against Rs 2,018.56 crore as on March 31, 2017, and Rs 844.56 crore as on June 30, 2016.

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ARTICLE SOURCE – BUSINESS STANDARD