Stock Market Update on Yes Bank for 1QFY2012

Stock Market Update on Yes Bank for 1QFY2012 with an Accumulate recommendation

For 1QFY2012, Yes Bank reported a strong performance with net profit growth of 38.2% yoy (6.2% qoq) to `216cr, marginally above our estimate of `212cr. Profit growth was driven by sequentially stable NIMs and a sharp drop in provisioning expenses (due to write-back of `15cr), which offset the lower-than-expected non-interest income. The bank seemed to have moderated growth for maintaining NIMs. We maintain our Accumulate recommendation on the stock.

Business growth moderates; steady NIMs and strong asset quality: During the quarter, the bank seemed to have moderated its balance sheet growth to maintain NIMs, as evident from the sequential decline in advances of 3.7%. Consequently, deposit accretion also declined by 5.1% qoq. CASA deposits continued to grow at a brisk pace of 49.8% yoy, leading to an improvement in CASA ratio to 10.9% from 10.5% in 1QFY2011. The bank surprised positively with sequentially stable NIMs at 2.8% on the back of a 90bp rise in yield on advances, which offset the 70bp qoq increase in cost of funds. With advances growth moderating, non-interest income growth came down to 14.9% yoy. Asset quality of the bank continued to be in a sweet spot, with best-in-the-industry gross and net NPA ratios of 0.17% and 0.01%, respectively, coupled with provision coverage (excluding technical write-offs) of 95.2%. Branch expansion plans were on track, with addition of 41 branches to take the network to 255 branches.

Outlook and valuation: Structurally, as the bank’s balance sheet continues to grow rapidly, we believe there may be downside risks to the bank’s RoA. On the liabilities side, building a savings deposit franchise involves execution risks. However, as we believe that we are very close to the peak of the current interest rate cycle and as liquidity has improved compared to the extreme tightness during the last few quarters, the environment is expected to be relatively more conducive for banks such as Yes Bank. The stock is trading at of 2.0x FY2013E ABV. We maintain Accumulate on the stock with a target price of `353.

Super Sixer Equity Trading Tips

According to the famous equity market investor Peter Lynch, the key to making money in stocks is not to get scared out of them. If you are new to equity trading or think that equity market is not your cup of tea, read on to discover six rules for investing smartly in the equity market!


1. Don’t buy stocks just because someone you know has recommended it! Before buying a stock, conduct preliminary research about the stock and the company. Read the financial statements and find out about the business, promoters and management.



2. Understand you risk tolerance level or how much risk you can take? Make investment in equity market based on your risk capacity.



3. Don’t wait for a correction to enter the market. More money is lost is waiting for market corrections to happen than in market corrections.



4. Do not panic when the equity market falls. Equity markets follow a cyclical trend and are influenced by many factors. The fundamentals and future prospects of the company do not change just because market undergoes a correction.



5. Be disciplined in equity trading. Create individual stop loss levels for all your equity investments based on the volatility of the stock. When the stop loss levels are hit, sell the stock instead of averaging it out at lower levels.



6. Don’t keep dud stocks in your portfolio in the hope that they will go up one day. Cut your losses and move ahead. Invest in some other stocks which will give you a better return in the same time frame.



Stick to these rules and invest smartly in the equity market!

Trade conveniently in stocks with Angel Broking

Stock market is the unarguably the best way to build wealth in the long term. But, investors shy away from stock market as they perceive stock markets to be risky. However, it is very easy to invest in the stock market. Contrary to the popular belief, you do not need lakhs to invest in stock market. You can start with a minimal amount and invest regularly in stocks to build a strong portfolio in the long term.
To invest in stocks, you need to have a Demat and Trading Account. If you have an Online Trading Account, stock investing becomes simpler. Just log on to your Online Trading Account and you can buy and sell shares in an instant, without relying on anyone else!
Angel Broking is the top retail broking house in India offering equities, derivatives, commodities, mutual funds, PMS, advisory services, IPO, life insurance, demat services.
Angel Broking has various trading platforms to optimize your trading experience. Angel Diet is for day traders who want the power of terminal trading on their desktop. Angel Trade is for investors who want easy and secure online trading from anywhere. Angel Investor is for investors who want to trade online in proxy and firewall environment like office and cybercafé. Angel Swift is for investors who want to trade from mobile. Angel Lite is for investors who want an ultra-low bandwidth site that works on slow internet connections.
Angel Broking also provides free training to operate the trading platforms. Stock investing is indeed easy with Angel Broking!

Indian Stock Market has gone mobile!

Equity trading or share trading has changed phenomenally over the years. Developing infrastructure and cutting edge technology has changed the way people invest in the stock market. Gone are the days of Open Outcry Trading where traders used to shout their buy and sell orders. Now investors can trade from their mobile anywhere, anytime!
In the days of share certificate and physical shares, traders used to assemble under banyan trees and later at stock exchanges to buy and sell shares. This system was fraught with problems like long settlement cycles and bad deliveries.
Advent of automated trading and internet trading made stock market investment more easy and simplified. It is now easy for an investor to buy and sell shares in Indian stock market independently. With an online share trading account, he can buy and sell shares online anywhere anytime from any computer with an internet connection.
Now with the introduction of mobile trading, stock market investors have more reasons to cheer! With mobile based trading, you can buy or sell stocks and trade on mobile. Angel Broking has launched their mobile trading platform - Angel Swift to facilitate trading from mobile phones.
Features of Angel Swift
• Facility to trade in stocks and commodities from mobile
• Real-time stock price quotes on mobile
• Highly secure environment for mobile trading
• Multiple Market Watch to track stocks
• Hot keys for faster trading
• Available on wide range of mobiles
• GPRS connection needed
Mobile trading is easy and ultra-convenient. You can view Product Demo of Angel Swift and experience mobile trading!

M-Connect – Your Connection to Stock Market on Mobile

Wouldn’t you always like to be connected to the exciting world of stock market?

Now you can track and monitor the stock market anywhere you go with M-Connect. Angel Broking’s M-Connect is a mobile application that allows you to keep in touch with stock market anytime, anywhere. You can get the latest stock quotes, news and other information while you are away from the office, in a meeting or on the road!

You can get the latest stock market updates and latest value of Indian and global indices. You can also get the latest news of Indian and global stock market. Tracking of your stock is also made easy with the Watchlist feature of M-Connect.

You can also view the latest updates and news from the Mutual fund and Commodities market. Getting the latest quote of any commodity listed on MCX and NCDEX is easy with M-Connect. Viewing the latest NAV of any mutual fund scheme in India is also possible on your mobile.

With M-connect it is easy to view and access the entire gamut of Angel’s products and services. You can also access Angel Back-Office on your mobile with M-Connect.

Go to http: //m.angelbroking.com using your mobile phone's WAP browser to download M-Connect. This exciting application is free of cost and just requires a GPRS connection!

Mobile Share Trading

Market Outlook on Your mobile browser

How comfortable would it be to access the stock markets anywhere and anytime, irrespective where you are. Wish you could get the latest data on stock markets at any instance of time, while making an instant trading decision.

To fulfill these wishes, Angel now presents its unique Angel Mobile Site. Created specifically for mobile phones, this sight delivers you the latest stock data on the move.

You can log on to this site from anywhere through your mobile device and avail all information on Indian Stock Markets within a moment. The site also provides up-to-date news reports on various equity and mutual funds.

Market statistics are clear indicators of the market conditions. They always come handy while deciding an investment policy. Angel Mobile site provides you all the market statistics on your mobile through dynamic indexes and charts on market movements.

Along with this data, you can also view information on the products and services provided by Angel, on this site. Existing Angel customers can access their Client Back-Office from the website. Customers aspiring to be a part of Angel clientele can register for Angel services through the registration form provided on the website.

Locate your closest Angel Branch through the website’s online Branch Locator tool.

All you need are common features like an activated GPRS connection and a WAP compliant mobile browser to view this website on your GSM mobile phone.

Log on to http://mobile.angeltrade.com and feel the Angel experience on your mobile phone.

If you want to buy shares then open demat account in india