Yes Bank snaps 3-day losing streak

Yes Bank rose 6.01% to Rs 88.25 at 14:15 IST on BSE on bargain hunting after a recent slide.

Meanwhile, S&P BSE Sensex was down 276.32 points or 0.72% at 38,060.69.

On BSE, 106.92 lakh shares were traded in Yes Bank counter, compared to a 2-week average of 101.54 lakh shares. The share price hit an intraday high of Rs 90.90 and an intraday low of Rs 81.75. It hit a 52-week high of Rs 404 on 20 August 2018 and a 52-week low of Rs 81.75 on 22 July 2019.

Shares of Yes Bank plunged 19.87% in the past three trading sessions to settle at Rs 83.25 yesterday, 19 July 2019, from its close of Rs 103.90 on 16 July 2019.

Recent slump was triggered by weak Q1 outcome. The bank announced after market hours on 17 July 2019, that its net profit dropped 90.97% to Rs 113.76 crore on 9.87% rise in total income to Rs 9088.80 crore in Q1 June 2019 over Q1 June 2018.

Gross non-performing assets (NPAs) stood at Rs 12092.10 crore as on 30 June 2019 as against Rs 7882.56 crore as on 31 March 2019 and Rs 2824.46 crore as on 30 June 2018. The ratio of net NPAs to net advances stood at 2.91% as on 30 June 2019 as against 1.86% as on 31 March 2019 and 0.59% as on 30 June 2018.

Net provisions at Rs 1784 crore in Q1 June 2019 included one off impact of Rs 1109 crore of investment MTM provision led by rating downgrades of investments in companies of two financial services groups.

Yes Bank is engaged in providing a range of banking and financial services. As on 30 June 2019 branch network stood at 1,122 and ATM network stood at 1,220.

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