Stock to buy or sell: Yes Bank shares rose sharply on Friday last week. Yes, the Bank share price opened flat on Friday and remained sideways until 12:15 PM. The stock surged around noon, reaching an intraday high of ₹27.04 on the NSE before closing. According to stock market specialists, a post-Q1FY25 business update from Yes Bank indicates that the private lender’s earnings may remain stable. They also expect that Yes Bank’s asset quality will stay healthy in the next quarters, implying a minimal chance of default or bad loans.
2024 in focus for Yes Bank’s Q1 results
“Post the Q1FY25 business update, we believe that the market participants have expressed confidence that Yes Bank’s profitability will remain steady in the future,” stated Manish Chowdhury, Head of Research at StoxBox, in response to questions about why Yes Bank’s share price is surging. Better financial health and benign credit costs result from the asset quality’s continued stability, which also suggests a decreased danger of defaults and bad loans. Moreover, rising lending activity is indicated by the development observed in Yes Bank’s MSME and corporate loan book. In the medium run, this will assist the bank’s NIM to stay stable, and there won’t be any noticeable compression in the near run.
According to the StoxBox expert, a stable and maybe rising profitability forecast is supported by strong asset quality, low credit costs, and loan book expansion. The combination of these elements has stimulated purchasing activity and raised the price of Yes Bank’s shares.
News from Yes Bank
VLA Ambala, a SEBI-registered research analyst and the founder of Stock Market Today, commented on the cause of the spike in Yes Bank shares following the release of the Q1 results 2024 date, saying, “Yes Bank has recorded a surge in price after it announced the Q1FY25 results date, & this jump can be credited to several reasons.” With HDFC Bank revealing favorable results, banking firms have started disclosing their Q1 results. The market anticipates positive earnings and even dividends from other banking equities, particularly those with solid fundamentals.
Yes Bank shares news
“Yes Bank’s movement on the spot chart indicates the creation of new purchasing opportunities when compared to its peers, making its discounted price appealing to investors. Meanwhile, the weekly and monthly charts show a bullish price trend, indicating a probable breakout from its current consolidation phase and a low-risk purchasing opportunity. Interested buyers can buy at ₹24.2, with a target price range of ₹25.40 to ₹32. VLA Ambala suggests holding the stock for 1-30 days and establishing a stop loss at ₹23 to mitigate risks.
Yes bank shareholding pattern for Q1 FY25
Yes Bank has announced its shareholding structure for the April-June 2024 quarter. According to Yes Bank’s shareholding pattern for Q1FY25, significant shareholders such as Life Insurance Corporation (LIC), Stata Bank of India (SBI), Axis Bank, ICICI Bank, and HDFC Bank held stable in the just-ended quarter.
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
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