Shares of YES Bank ruled flat on Thursday ahead of its financial results for the September quarter later in the day.
The scrip was at Rs 204.10 at around 9.35 am against its previous close of Rs 204. The benchmark BSE Sensex plunged 265.65 points, or 0.78 per cent, to 33,768.31.
Meanwhile, YES Bank, according to media reports, has clarified that its post-earnings press conference was not cancelled, but postponed to 3 pm today.
Brokerage firm IDBI Capital Markets sees 35.40 per cent and 24.60 per cent year-on-year rise in profit after tax and net interest income, respectively, with stable asset quality.
There are expectations that the management is likely to give aggressive growth guidance with focus on retail.
Sharekhan projected 24 per cent YoY rise in NII. It also sees 31.50 per cent and 25.50 per cent YoY jump in pre-provisioning profit and profit after tax in Q2 FY19.
“Loan growth has remained healthy (disclosed by Yes Bank) in press release with largely stable asset quality. Outlook on succession plan and capital raising plans would be the key things to watch. Management commentary and guidance, and the result of RBIs annual inspection are also anticipated,” said Sharekhen.
Yes Bank recently said the Reserve Bank of India (RBI) had reaffirmed that the retail bank should appoint a successor to Chief Executive Rana Kapoor by February 1, 2019.
The bank has hired advisory firm Korn Ferry to help search for Kapoor's successor.
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