YES Bank share price was trading marginally higher on Tuesday, amid a rally in banking and financial index, in line with broader indices Sensex and Nifty that continued hitting record highs.
Reversing from yesterday's losses, the stock of private lender opened lower at Rs 17.80 against its previous close of Rs 17.95 today. The stock gained 3% to hit the day's high of Rs 18.50 on BSE. The stock also hit an intraday low of Rs 17.60.
YES Bank among other listed companies was re-classified as large-cap stocks in the semi-annual Association of Mutual Funds in India (AMFI) review in the first week of January 2021, which will be effective for the February-to-July 2021 period.
YES Bank stock is trading higher than 5, 50 and 100-day moving averages but lower than 20, 200-day moving averages.
The stock rose 0.56% last week amid rise in the private banking index and broader indices Sensex and Nifty, which have been hitting record highs. Meanwhile, Sensex has gained 2% during the same period. Year-to-date, the stock has risen 1%.
On the technical front, YES Bank stock has just managed to hold in two figures and is in a mildly bearish range since last year. Although, the stock shows buying interest in the range of Rs 17-18 on a weekly basis as against the earlier Rs 11-15 range. Due to a spike in volume, the share price of the troubled lender can be seen rising, which is an early indication in the stock that it is getting accumulated.
Market capitalisation of the lender stood at Rs 45,098.83 crore as of today's session. The stock has touched a 52-week high of Rs 87.95 and a 52-week low of Rs 5.55. Share of the private lender with Rs 2 face value has fallen 7% in the one month week and 59% in one year.
In a regulatory filing on January 4, YES Bank announced that it has registered 1.3% growth on a sequential basis in loans and advances to Rs 1.69 lakh crore during the December quarter. Lender's deposits grew 7.7% to Rs 1.46 lakh crore in the quarter, compared to Rs 1.36 lakh crore in the September quarter.
The gross retail disbursements during the December quarter stood at Rs 7,563 crore, up 109% compared with Rs 3,764 crore in the September quarter.
The certificate of deposits (CDs) grew 1.9% to Rs 7,395 crore from Rs 7,259 crore in the preceding quarter. The current account and savings account (CASA) deposits grew 12.6% to Rs 37,973 crore, compared to Rs 33,713 crore in the September quarter.
YES Bank is set to announce December quarterly results on 22 January.