Yes Bank Shares Rise Over 4% Ahead Of Earnings, Extend Gains To Second Day

Yes Bank shares rose more than 4 per cent on Wednesday, ahead of the earnings announcement by the private sector lender. On the Bombay Stock Exchange (BSE), the Yes Bank share price opened 4.19 per cent higher at Rs 108.25 apiece, and rose to as much as Rs 108.40 apiece in morning deals. That marked a 4.33 per cent gain in Yes Bank shares compared to their previous close of Rs 103.90 apiece on the BSE. (Also read: Ex-RBI Deputy Governor R Gandhi joins Yes Bank board)

On the National Stock Exchange (NSE), Yes Bank shares climbed 4.48 per cent to Rs 108.50 at the day's strongest point. 

At the intraday high, the Yes Bank shares today clocked a recovery of 26.49 per cent from a fresh 52-week low of Rs 85.70 apiece registered on the BSE last week.

At 10:20 am, Yes Bank shares traded 1.01 per cent higher at Rs 104.95 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.23 per cent.

On Tuesday, the Yes Bank stock price regained the Rs 100-mark for the first time since July 4. (Also read: Yes Bank share price jumps ahead of earnings announcement)

Last month, credit ratings major Moody's had placed Yes Bank under review for a downgrade citing the private-sector lender's exposure to some weak financial companies.

Yes Bank will report its earnings for the quarter ended June 30, 2019 later in the day.

For the quarter ended March 30 - the last quarter of financial year 2018-19, Yes Bank reported a net loss of Rs. 1,506 crore due to high provisions, as against a profit of Rs. 1,179 crore for the corresponding period a year ago. 

Yes Bank's full-year profit stood at Rs. 1,720 crore, as against Rs. 4,224 crore in 2017-18.