Yes Bank advances after operationalising IFSC Banking Unit in GIFT city

Yes Bank rose 0.1% to Rs 747 at 13:00 IST on BSE after the bank's announcement that it has operationalised its IFSC Banking Unit in Gujarat International Finance Tec City.

The bank made announcement during market hours today, 27 October 2015.

Meanwhile, the BSE Sensex was down 110.81 points, or 0.4%, to 27,251.15.

On BSE, so far 95,893 shares were traded in the counter, compared with an average volume of 4.23 lakh shares in the past one quarter.

The stock hit a high of Rs 752.55 and a low of Rs 742.20 so far during the day. The stock hit a record high of Rs 910 on 4 March 2015. The stock hit a 52-week low of Rs 590 on 24 August 2015.

The stock had underperformed the market over the past one month till 26 October 2015, gaining 3.52% compared with 5.79% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 7.72% as against Sensex's 2.67% fall.

The large-cap bank has an equity capital of Rs 419.08 crore. Face value per share is Rs 10.

Yes Bank said that it is the first bank to have begun its operations by setting up an IFSC Banking Unit (IBU) in Gujarat International Finance Tec (GIFT) City.

Yes Bank's net profit rose 27.7% to Rs 551.20 crore on 22.8% growth in total income to Rs 3797.02 crore in Q1 June 2015 over Q1 June 2014.

Yes Bank is a private sector bank with a pan India presence.

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