YES Bank surges 4% ahead of Q1 results; here’s what analysts say
NEW DELHI: Shares of YES Bank climbed 4 per cent in Wednesdays trade ahead of its June quarter results. The stock gained even as the bank was expected to report subdued earnings on rising provisions amid deteriorating asset quality.
The scrip jumped 4.33 per cent to hit a high of Rs 108.40 on BSE.
Brokerage firm Prabhudas Lilladher projected 84 per cent YoY fall in profit at Rs 201.10 crore on 22 per cent YoY rise in pre-provisioning operating profit. It also said the asset quality of the lender may deteriorate further with percentage of gross non-performing assets (NPA) spiking to 3.70 per cent in Q1FY19 over 3.22 per cent in Q1FY18.
“YES Bank could continue to face challenging quarter with key risky assets could turn NPA with the risk of further provisioning,” PraRead More – Source