 "IndusInd Bank, YES Bank hits record high")
Shares of private sector banks were trading firm in otherwise range-bound market with IndusInd Bank and YES Bank hitting their respective record highs on the National Stock Exchange (NSE).
YES Bank, Kotak Mahindra Bank, IndusInd Bank, IDFC Bank and HDFC Bank were trading higher by up to 3% as compared 0.17% rise in the Nifty 50 index. At 03:11 pm; Nifty Private Bank index was up 0.75% against 3% decline in the Nifty PSU Bank index.
YES Bank (up 2.7% at Rs 1,452) and IndusInd Bank (up 1.4% at Rs 1,341) hit record highs in intra-day trade.
Post October-December (Q3FY17) quarter results YES Bank and IndusInd Bank have outperformed the market by rising 8% each, as compared to 4% gain in the benchmark index.
YES Bank’s Q3 net profit grew 31% year on year (YoY) to Rs 883 crore led by strong growth in net interest income (NII) and non-interest income. Loan remained robust at 38% YoY whereas net interest margins (NIMs) expanded 10bps QoQ to 3.5%. Asset quality was stable with gross net performing assets (GNPAs) and net NNPAs at 0.85% and 0.29%, respectively.
Analysts at Religare Institutional expect YES Bank to grow much faster than the system and see scope for margin expansion ahead.
IndusInd Bank reported 29% YoY jump in net profit at Rs 751 crore on back of 35% YoY growth in NII at Rs 1,578 crore in Q3FY17. Asset quality was largely stable with the GNPA ratio at 0.94%. NIMs remained flat at 4% despite lower cost of funds.
YES Bank, Kotak Mahindra Bank, IndusInd Bank, IDFC Bank and HDFC Bank were trading higher by up to 3% as compared 0.17% rise in the Nifty 50 index. At 03:11 pm; Nifty Private Bank index was up 0.75% against 3% decline in the Nifty PSU Bank index.
YES Bank (up 2.7% at Rs 1,452) and IndusInd Bank (up 1.4% at Rs 1,341) hit record highs in intra-day trade.
Post October-December (Q3FY17) quarter results YES Bank and IndusInd Bank have outperformed the market by rising 8% each, as compared to 4% gain in the benchmark index.
YES Bank’s Q3 net profit grew 31% year on year (YoY) to Rs 883 crore led by strong growth in net interest income (NII) and non-interest income. Loan remained robust at 38% YoY whereas net interest margins (NIMs) expanded 10bps QoQ to 3.5%. Asset quality was stable with gross net performing assets (GNPAs) and net NNPAs at 0.85% and 0.29%, respectively.
Analysts at Religare Institutional expect YES Bank to grow much faster than the system and see scope for margin expansion ahead.
IndusInd Bank reported 29% YoY jump in net profit at Rs 751 crore on back of 35% YoY growth in NII at Rs 1,578 crore in Q3FY17. Asset quality was largely stable with the GNPA ratio at 0.94%. NIMs remained flat at 4% despite lower cost of funds.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| ADANI TRANSMISSI | 66.90 | 69.70 | 69.65 | 10-Feb-17 |
| ALKEM LAB | 1846.70 | 1870.00 | 1856.00 | 29-Sep-16 |
| BLUE STAR | 558.00 | 588.70 | 583.90 | 17-Oct-16 |
| CESC | 867.10 | 868.50 | 848.75 | 10-Feb-17 |
| EXIDE INDS. | 215.95 | 216.75 | 214.90 | 02-Feb-17 |
| FINOLEX CABLES | 470.45 | 473.90 | 472.95 | 06-Feb-17 |
| GODREJ INDS. | 515.90 | 521.60 | 521.10 | 10-Feb-17 |
| GRUH FINANCE | 369.55 | 370.00 | 369.00 | 10-Feb-17 |
| INDUSIND BANK | 1339.35 | 1341.00 | 1335.50 | 06-Feb-17 |
| INFIBEAM INCORP. | 1365.00 | 1397.40 | 1390.00 | 09-Feb-17 |
| L&T FIN.HOLDINGS | 110.15 | 110.90 | 110.40 | 10-Feb-17 |
| SUPREME INDS. | 1013.30 | 1035.00 | 1025.00 | 22-Aug-16 |
| VST INDS. | 2701.90 | 2777.00 | 2770.00 | 08-Feb-17 |
| YES BANK | 1454.65 | 1454.90 | 1449.00 | 06-Sep-16 |
