Yes Bank hits record high after strong Q1 earnings

Yes Bank was up 1.7% at Rs 1,221 at 13:38 IST on BSE as buying interest in the stock continued a day after the private sector bank reported strong Q1 June 2016 results and said its assets quality remains strong.

The stock hit high of Rs 1,226.65 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,203.05 so far during the trading session. On BSE, so far 1.92 lakh shares changed hands in the counter.

Meanwhile, the S&P BSE Sensex was currently up 90.29 points or 0.32% at 28,114.62.

Shares of Yes Bank had ended a tad lower at Rs 1,200.10 on BSE yesterday, 27 July 2016, after the announcement of the results during trading hours. Yes Bank's net profit rose 32.76% to Rs 731.80 crore on 25.43% growth in total income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015. At the time of announcement of the first quarter results, the private sector bank said that it continues to show resilience on all asset quality parameters.

Yes Bank's CASA (current and savings account) deposits ratio improved to 29.6% as on 30 June 2016 from 23.4% as on 30 June 2015.

Yes Bank received an in-principle approval from the Securities & Exchange Board of India (Sebi) this week to sponsor a mutual fund and set up an asset management company (AMC) and a trustee company. The bank plans to commence mutual funds business within 12 months.

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