Views on Yes Bank Limited 3QFY2017 Results: Angel Broking

Mr. Siddharth Purohit (Sr. Equity Research Analyst - Banking, Angel Broking) on Yes Bank Limited 3QFY2017 Results:

"Yes Bank positively surprised for the quarter with a 30.6% growth in bottom-line. Loan growth of 38.7% was much higher than expected. Despite aggressive growth in loan book the bank has been able to maintain a very stable asset quality and that's another positive surprise.

With higher than industry growth rates the bank will continue to attract premium valuations. At the current levels the stock trades at 3x its FY18 E Adj BV. Investors with long term horizon can ACCUMULATE the stock."

Shares of YES BANK LTD. was last trading in BSE at Rs.1358.65 as compared to the previous close of Rs. 1347.15. The total number of shares traded during the day was 298627 in over 8927 trades.

The stock hit an intraday high of Rs. 1378.3 and intraday low of 1351.35. The net turnover during the day was Rs. 408108764.

Source : Equity Bulls

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