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Asset quality a negative surprise form Yes Bank: Angel Broking

Posted On: 2017-04-19 20:03:26

Views of Mr. Siddharth Purohit (Sr. Equity Research Analyst - Banking, Angel Broking):

"While the business growth of Yes Bank for the quarter has been strong like other quarter, the key development is sharp rise in NPAs QoQ, which is a point of worry. In absolute terms the GNPAs has doubled to INR 2019 cr from INR 1006 cr and GNPAs % has gone up to 1.52% vs 0.85% QoQ. As per the management one large account worth INR 911.5 cr has been accounted as NPAs during the quarter, while the management expects the account will be recovered in the near term, the fact that there is a visible sign of stress in the balance sheet and this could weigh on the stock in the near term. The recent capital raised would be enough for the bank to meet its current growth rate. While sustainable growth is one point to look for, given the current development asset quality holds the key to future growth prospects of the bank. We maintain our NEUTRAL rating on the stock."

Shares of YES BANK LTD. was last trading in BSE at Rs.1605.4 as compared to the previous close of Rs. 1605.9. The total number of shares traded during the day was 243279 in over 9229 trades.

The stock hit an intraday high of Rs. 1619 and intraday low of 1592. The net turnover during the day was Rs. 390726309.

Source: Equity Bulls

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