Yes Bank gains after partnering GSRTC to digitize bus travel payments

Yes Bank rose 0.84% to Rs 1,128 at 9:23 IST on BSE after the bank said it has partnered with the Gujarat State Road Transport Corporation to digitize payments of bus tickets for its customers.

The announcement was made after market hours yesterday, 24 November 2016.

Meanwhile, the BSE Sensex was up 56.36 points, or 0.22%, to 25,916.53.

On BSE, so far 10,000 shares were traded in the counter, compared with average daily volume of 3.21 lakh shares in the past one quarter. The stock hit a high of Rs 1,132.25 and a low of Rs 1,124.05 so far during the day. The stock hit a record high of Rs 1,450 on 7 September 2016. The stock hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had underperformed the market over the past 30 days till 24 November 2016, falling 13.21% compared with the 7.10% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.66% as against Sensex's 6.92% decline.

The large-cap private sector bank has equity capital of Rs 422.65 crore. Face value per share is Rs 10.

Yes Bank announced that it has partnered with the Gujarat State Road Transport Corporation (GSRTC) to digitize payments of bus tickets for its customers. Under the partnership, Yes Bank will install over 125 PoS (point-of-sale) terminals to facilitate booking of tickets through credit and debit cards at all the GSRTC bus depots. Yes Bank is already live with 50 terminals as on date and will achieve a number of 125 in the next couple of weeks as part of the first phase of implementation.

Yes Bank reported 31.31% rise in net profit to Rs 801.54 crore on 24.7% rise in operating income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

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