Global brokerage firm Nomura remains bullish on the shares of Maruti Suzuki, after India’s largest car-maker signed a pact to with Toyota Motor Corporation to roll out electric cars in India. On Friday, the Japanese car-maker entered into an in-principle agreement with Maruti Suzuki to consider a joint structure for the introduction of electric cars in India in 2020. The Indian car-manufacturer’s parent Suzuki said in a statement, “ Suzuki will manufacture electric cars for India and supply some units to Toyota,” adding that Toyota will also provide technical support.

Yes Bank and IndusInd Bank stocks opened higher on Monday and further extended the gains on news of inclusion in the 30-share benchmark index — Sensex. The private sector lenders Yes Bank and IndusInd Bank will enter in the BSE Sensex with effect from 18 December 2017. Following the inclusion of Yes Bank and IndusInd Bank, two pharma sector stocks, Cipla and Lupin, will be removed from the index.

Reliance General Insurance Company Ltd on Friday said it has signed a comprehensive Bancassurance agreement with YES Bank to distribute its various products.

In a statement issued here, Reliance General - a subsidiary of Reliance Capital Ltd - said the bancassurance agreement - corporate agency agreement - has been inked to distribute insurance products to the bank's customers.

The funding will be provided to around 100 food processing projects with an average ticket size of Rs 10 crore each, the bank said in a statement.

Private sector lender Yes Bank today signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects.

Shares of YES Bank slumped 7.4 per cent after investors took fright at revised bad loan figures which were four times higher than those previously reported by the Mumbai-based lender.

Earlier this week, the Reserve Bank of India (RBI) had fined YES Bank, controlled by billionaire Rana Kapoor, for under-reporting its bad loans in audited results for the year to March 31. The bank also underestimated its soured loans in the preceding two fiscal years, according to previous filings.

YES Bank dipped 10% to Rs 299 on the BSE in early morning trade after the private sector lender saw significant weakening of its asset quality in September 2017 quarter (Q2FY18).

The bank’s gross non-performing assets (GNPA) ratio rose to 1.82% in Q2FY18 from 0.97% in June quarter (Q1FY18), while Net NPA rose to 1.04% from 0.39% in previous quarter. It saw a rise in NPAs by Rs 6,355 crore as the Reserve Bank of India (RBI) asked it to restate bad loan figures for FY17.

Private lender YES Bank saw a rise in net profit by 25.1 per cent to Rs 1,003 crore for the September quarter as against Rs 802 crore in year ago period.

Gross bad loans as a percentage of total loans stood at 1.82% at end-Sept, compared with 0.97% a quarter earlier and 0.83% in the year-ago period.

MUMBAI: Midsize private sector lender Yes Bank today claimed that its credit card portfolio has grown to over Rs 250 crore with 2 lakh customers within one year of entering the segment.

"We are running ahead of time in achieving milestones which we had set for ourselves. Our focus is on building the user-base right now and we have 2 lakh cards now," its retail head Pralay Mondal told reporters here.

Private lender YES Bank has gone in for "rationalisation" of workforce to address certain "redundancies", the company has said.

According to reports, the bank has reduced its workforce by nearly 2,500 on account of digitisation and automation.

Yes Bank hit a new high of Rs 383, up 2% on BSE in early morning trade after the stock turned ex-stock split in the ratio of 1:5 with effect from today.

The board of Yes Bank on July 26, 2017 had approved stock split in the ratio of 5 for 1, i.e. sub-division of 1 equity share of face value of Rs 10 each fully paid up into 5 equity shares of Rs 2 each fully paid up.

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