Yes Bank at record high on talks to buy Indian arm of RBS

Private sector lender Yes Bank hit a record high of Rs 517.70 on Tuesday on news that the bank is in talks to buy Indian retail assets of RBS.

The leading newspapers reported that the bank has initiated talks with RBS to acquire the latter's retail assets in India. The move comes after RBS failed to close a deal involving sale of its India retail assets to HSBC.

At 10:38 hours IST, the stock rose 1.8 percent to Rs 516.75 amid high volumes on Bombay Stock Exchange.

Trading volumes increased 37.7 percent to 2,98,238 equity shares as compared to its five day average of 2,16,591 shares.

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