Views on Yes Bank Limited 1QFY2017 Results: Angel Broking

Views of Mr. Siddharth Purohit (Sr. Equity Research Analyst- Banking, Angel Broking) on Yes Bank Limited 1QFY2017 Results:

"Yes Bank continued to report yet another quarter of strong growth. Loan growth of 33% exceeded our expectations. Both on NII and PAT front the bank has posted very good set of results for the quarter. Despite strong growth it has been able to maintain stable asset quality, as GNPAs went up by only 3 bps QoQ and in absolute term it went up by 13%, compared to 34% QoQ rise in absolute GNPA in Q4FY16. While operationally the bank has been doing good, with the recent rally in the stock the valuations seems rich. While existing investors can continue to hold the stock, fresh additions can be considered only on declines. While fundamentally the balance sheet looks strong, due to rich valuations we have a NEUTRAL rating on the stock."

Shares of YES BANK LTD. was last trading in BSE at Rs.1217.2 as compared to the previous close of Rs. 1220.55. The total number of shares traded during the day was 166356 in over 6609 trades.

The stock hit an intraday high of Rs. 1235.9 and intraday low of 1208. The net turnover during the day was Rs. 203340631.

Source : Equity Bulls

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