Stock Market Update
Following the release of robust Q4 2024 results on Saturday, shares of Yes Bank saw a significant uptick in buying activity during morning trading on Monday.
Yes Bank share price started the day at 27.50 per share on the NSE and quickly touched a high of 28.55 per share within minutes of opening. That represents an 8 per cent increase in the stock price on Monday.
Stock market experts said that Yes Bank has reported robust results for the fourth quarter of 2024, and the current rise in share prices can be attributed to this positive quarterly data. Based on the expected increase in the value of Yes Bank shares,
it is recommended that owners of Yes Bank hold their shares while maintaining a stop loss of $24. They are advised to wait patiently for the short-term targets of $30 and $32 per share. During its rally to an intraday high of 28.55 per share, Yes Bank share price came close to its previous 52-week high of 32.85 per share.
Yes Bank Q4 Results.
According to Amit Goel, co-founder and chief global strategist at Pace 360, Yes Bank’s net profit for the January-March quarter of the financial year (FY) 2023-24 stood at ₹ 451 crores, a significant increase of 123 per cent. Compared to the previous year’s figure of ₹202 crore. The bank’s gross non-performing assets (NPAs) declined to 1.7% from 2.2% in the same quarter of the previous year.
Conversely, net non-performing assets (NPAs) stood at 0.6% for the quarter, an improvement from 0.80% in the previous year. During the fourth quarter, it launched operations as a PSP payment bank serving existing and new Paytm customers.
According to Shreyansh V Shah, research analyst at StoxBox, Yes Bank delivered strong fourth-quarter results in 2024, as expected and in line with its continued progress under CEO Prashant Kumar. The bank saw significant growth in net profit, with a year-on-year increase of 123% and a quarter-on-quarter increase of 95%.
Higher revenues and reduced provisions drove this growth. Robust performance in operating metrics such as net interest margins (NIM) and non-performing assets (NPAs) in a high-interest rate environment suggests the bank faces long-term challenges.
The most notable aspect of the quarter for us was the significant improvement in return on assets (ROA) and the significant increase in non-interest income. This suggests that the lender’s previous strategic moves have begun to yield positive results.
Yes Bank Share Price Target
Sumeet Bagadia, Managing Director, Choice Broking, said Yes Bank stock has formed a solid base at 24 per share. If the stock falls below this level, it may experience a decline in value.
yes Bank share price is facing resistance in the range of 30 to 32 on the upside. After crossing this resistance zone, Yes Bank stock is expected to rise significantly.
Regarding the proposal to Yes Bank shareholders, Bagadia said it is possible to retain the shares while maintaining a stop loss of $24 per share.
New investors have the option to buy Yes Bank shares at their current market prices while maintaining a stop loss of 24. Any significant drop in the stock should be considered a significant buying opportunity until the Yes Bank stock price crosses the 24 per share level.
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