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Yes Bank's net profit surged to Rs 612 crore in the December 2024 quarter, driven by a robust growth in fee income, reduced RIDF deposits, and lower provisions due to improved asset quality. The bank's non-interest income grew by 27%, and its gross NPA ratio dropped to 1.6%. Additionally, SME and mid-large corporate advances increased by 27% year-on-year.
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The markets remained in a very defined trading range and stayed decisively below key levels. The trading range widened a bit; the Nifty oscillated in 449.45 points before closing towards its lower end of the range. The volatility increased; the India VIX inched higher by 6.33% to 16.75 and stayed at elevated levels.
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The market experienced a downturn driven by a sell-on-rally trend, with realty stocks significantly impacted. Analyst Sudeep Shah from SBI Securities shared insights, highlighting concerns due to sustained bearish pressure on the Nifty index and significant FII selling. Despite this, the IT sector shows promise, and large-caps offer some stability amidst market volatility.
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