Yes Bank share price: Following the posting of impressive Q4 results for 2024 on Saturday, Yes Bank shares saw significant buying on Monday morning in early trading. The price of a share of Yes Bank opened higher on the NSE today at ₹27.50, and within minutes of the stock market opening bell, it reached an intraday high of ₹28.55 per share, resulting in an 8 percent intraday advance on Monday.
Stock market experts claim that Yes Bank announced outstanding Q4 earnings in 2024, and that the present scrip purchasing can be linked to these impressive quarterly performance. They stated that Yes Bank owners should hold the scrip with a stop loss at ₹24 and wait for the near-term goal of ₹30 and ₹32 apiece, anticipating more upside in the company’s shares. The price of a Yes Bank share reached its intraday high of ₹28.55 per share and nearly reached its 52-week high of ₹32.85 per share.
Yes Bank’s Q4 outcomes
Yes Bank posted a net profit of ₹451 crore for the January-March quarter of the financial year (FY) 2023-24, marking a 123 percent jump compared to ₹202 crore in the year-ago period, according to Amit Goel, co-founder and chief global strategist at Pace 360. For the same quarter last year, the bank’s gross non-performing asset (NPA) was 2.2%; this year, it was 1.7%. Conversely, year over year, the net non-performing assets (NPA) decreased to 0.6% during the quarter from 0.80%. It began operating as PSP Payment Bank for both new and current Paytm users in the fourth quarter.”
As predicted and continuing with its new path under CEO Prashant Kumar, Yes Bank achieved outstanding fourth-quarter results, according to research analyst Shreyansh V. Shah of StoxBox, deciphering the bank’s Q4 2024 data. With smaller provisions and more other revenue, the bank’s bottom line saw strong growth, increasing by 123% YoY and 95% QoQ. When operating metrics like NIMs and NPAs are good in a high-interest rate environment, it suggests that the bank is dealing with legacy problems. We saw that the lender’s previous strategic actions are beginning to pay off, as evidenced by the considerably better improvement in ROA and excellent growth in non-interest income, which was the highlight of the quarter for us.”
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Target share price for Yes Bank
Sumeet Bagadia, Executive Director at Choice Broking, said on the prospects for the price of Yes Bank shares: “Yes Bank shares have made a strong base at ₹24 apiece level.” If the stock breaks below this level, it can become weaker. The Yes Bank share price is encountering resistance on the top side in the ₹30 to ₹32 range. We anticipate significant upside movement in Yes Bank shares upon breaking over this resistance zone.”
Bagadia made the following recommendation to Yes Bank shareholders: “One can hold the scrip maintaining stop loss at ₹24 apiece.” If they keep their stop loss at ₹24, new investors can also purchase Yes Bank shares at the present price. Up until the Yes Bank share price crosses ₹24 a share, every significant decline in the stock should be viewed as a significant buying opportunity.”
(Disclaimer: Businessuncover does not endorse the opinions or suggestions expressed above; rather, these represent the opinions of certain analysts or broking firms. It is recommended that investors consult with qualified specialists prior to making any financial decisions.)
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