Yes Bank inches up after acquiring minority stake in Receivables Exchange of India

Yes Bank rose 0.86% to Rs 1,049.25 at 9:25 IST on BSE after the bank's announcement that it has executed a share subscription and shareholders' agreement to acquire 8% of the post-issue paid-up capital of Receivables Exchange of India.

The announcement was made after market hours yesterday, 9 June 2016.

Meanwhile, the S&P BSE Sensex was down 53.11 points or 0.2% at 26,710.35.

On BSE, so far 10,000 shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past two weeks. The stock hit a high of Rs 1,050.45 and a low of Rs 1,036 so far during the day. The stock had hit a record high of Rs 1,085 on 7 June 2016. The stock had hit a 52-week low of Rs 590 on 24 August 2015.

The large-cap private sector bank has equity capital of Rs 421 crore. Face value per share is Rs 10.

Receivables Exchange of India (RXIL) is a joint venture company set up by NSE Strategic Investment Corporation and Small Industries Development Bank of India.

Yes Bank's net profit rose 27.4% to Rs 702.11 crore on 17.7% rise in total income to Rs 4331.11 crore in Q4 March 2016 over Q4 March 2015.

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

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