Today’s results for the first quarter: Yes Bank, a private lender, will report first-quarter results for the fiscal year 2024-25. Market experts believe that the Bank’s asset quality improvement in Q1 earnings today will produce positive numbers. Despite the favorable outlook for Yes Bank’s earnings, the private lender’s shares fell on Friday, just one day before its Q1 results announcement.
According to stock market experts, the decline in Yes Bank’s share price might be related to fewer provisions and operational expenses, which are projected to improve the bank’s bottom line.
Yes Bank’s Q1 2024 results preview
Speaking about Yes Bank’s Q1 results 2024, Manish Chowdhury, Head of Research at StoxBox, stated, “In our perspective, the prognosis for Yes Bank remains optimistic, particularly due to recent improvements in the bank’s asset quality and capitalization. Despite a transitory dip in profitability due to higher funding costs, we expect Yes Bank to publish a strong set of figures for Q1FY25. Lower provisions and steady reductions in operating expenses are projected to improve the bank’s bottom line.
The Bank’s strategic emphasis on growing its Priority Sector Lending (PSL) portfolio is anticipated to enhance its Return on Assets (ROA) trajectory in the future. Furthermore, the StoxBox expert anticipates that the expansion of its branch network and robust new disbursements in the Retail and SME sectors will contribute to the company’s outstanding overall performance.
Yes Bank’s share price outlook
According to Sumeet Bagadia, Executive Director at Choice Broking, Yes Bank shares are well supported at around ₹23 per share. Yes Bank shareholders should set a stop loss of ₹23 for the market opening on Monday. If the stock opens at less than ₹24.80, it is not recommended to acquire more. Buying Yes Bank shares above ₹25 is advised on Monday. Consider purchasing Yes Bank shares over ₹25 for immediate targets of ₹28 and ₹30. They must keep a stop loss of ₹23.
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