Yes Bank jumped 23.49% to Rs 389.65 at 14:49 IST on BSE amid huge volume, with the stock extending recent rally.
Meanwhile, the BSE Sensex was up 754.93 points, or 3.71%, to 20,702.06
The stock surged on huge volumes. On BSE, 54.91 lakh shares were traded in the counter compared with average volume of 17.90 lakh shares in the past one quarter.
The stock hit a high of Rs 394.70 and a low of Rs 347.20 so far during the day. The stock hit a record high of Rs 547.15 on 20 May 2013. The stock hit a 52-week low of Rs 216.10 on 28 August 2013.
The stock had outperformed the market over the past one month till 18 September 2013, rising 22.34% compared with the Sensex's 7.33% rise. The scrip had, however, underperformed the market in past one quarter, falling 33.61% as against Sensex's 3.84% rise.
The large-cap private sector bank has equity capital of Rs 360.39 crore. Face value per share is Rs 10.
Shares of Yes Bank have been on a roll recently, surging 38.59% in four trading days from a recent low of Rs 281.15 on 13 September 2013. The rally caught momentum after Yes Bank during market hours on Tuesday, 17 September 2013, said it successfully closed equivalent to $255 million by way of dual currency, multi-tenor syndicated loan facility which will be utilised for general corporate purposes and trade finance. The facility has a maturity of 1 and 2 years with majority commitments coming in the 2 year tenure bucket. The loan has been widely distributed with commitments from 11 banks representing 8 countries across US, Europe, Middle East and Australia, Yes Bank said.
On the successful completion of the transaction, Mr. Rana Kapoor, Managing Director and CEO, Yes Bank said: "This significant commitment from global banks reinforces our unique financial and business model, and further reposes faith and trust in the Yes Bank management team, despite the challenging global and Indian micro environment."
The recent Reserve Bank of India (RBI) guidelines on offering swap facility to banks for the foreign currency borrowings at 100 basis points below the market rate will further make the landed rupee cost of these funds extremely competitive vis-vis rupee funds of equivalent maturity, Yes Bank said.
Yes Bank had announced hike in its base rate by 0.25% to 10.75% effective 1 August 2013.
Yes Bank's net profit surged 38.2% to Rs 400.84 crore on 30.6% growth in total income to Rs 2839.97 crore in Q1 June 2013 over Q1 June 2012.
Yes Bank is one of the leading private sector banks in India. It added 45 branches during Q1 June 2013, taking the total branch count to 475 as on 30 June 2013. The bank added 100 ATMs during the quarter, taking the total count to 1,051 ATMs as at 30 June 2013.
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