Yes Bank shed 0.74% to Rs 925.10 at 13:00 IST on BSE after the bank announced reduction in marginal cost of funds based lending rates by 10 basis points across all tenors with effect from 1 May 2016.
The announcement was made after trading hours yesterday, 3 May 2016.Meanwhile, the S&P BSE Sensex was down 50.91 points or 0.2% at 25,188.
On BSE, so far 1.22 lakh shares were traded in the counter as against average daily volume of 3.83 lakh shares in the past one quarter. The stock hit a high of Rs 939 and a low of Rs 922.75 so far during the day. The stock had hit a record high of Rs 958 on 2 May 2016. The stock had hit a 52-week low of Rs 590 on 24 August 2015. The stock had outperformed the market over the past one month till 3 May 2016, gaining 8.92% compared with the Sensex's 0.16% fall. The scrip had also outperformed the market in past one quarter, rising 19.73% as against Sensex's 4.15% gains.
The large-cap private sector bank has equity capital of Rs 420.82 crore. Face value per share is Rs 10.
Yes Bank said that its marginal cost of funds based lending rate (MCLR) for one-year loans now stands at 9.5%, reduced from earlier 9.6%.
All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to MCLR, which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.
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Yes Bank's net profit rose 27.4% to Rs 702.11 crore on 17.7% rise in total income to Rs 4331.11 crore in Q4 March 2016 over Q4 March 2015.
Yes Bank is a private sector bank with a pan India presence.
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