Yes Bank share price jumps 8% after strong Q4 results 2024. Do you own?

According to stock market experts, Yes Bank has declared beardown Q4 results 2024 and existent buying successful the scrip tin beryllium attributed to this beardown quarterly numbers. Expecting much upside successful Yes Bank shares, they said that Yes Bank shareholders should clasp the scrip maintaining halt nonaccomplishment astatine ₹24 and hold for near-term people of ₹30 and ₹32 apiece. While climbing to the intraday precocious of ₹28.55 apiece, Yes Bank stock terms came adjacent to its existing 52-week precocious of ₹32.85 apiece.

Yes Bank Q4 results

Speaking connected the Q4 results 2024 of Yes Bank, Amit Goel, Co-Founder and Chief Global Strategist astatine Pace 360 said, “Yes Bank reported a nett net of ₹451 crore for the January-March 4th of the fiscal twelvemonth (FY) 2023-24, marking a 123 percent leap compared to ₹202 crore successful the year-ago period. The bank's gross NPA stood astatine 1.7%, down from 2.2% recorded successful the aforesaid 4th past year. On the different hand, the nett NPA for the 4th stood astatine 0.6%, improving from 0.80% connected a year-on-year basis. In the 4th quarter, it started functioning arsenic PSP Payment Bank for existing and caller consumers of Paytm."

Decoding Yes Bank's Q4 results 2024, Shreyansh V Shah, Research Analyst astatine StoxBox said, “As expected and successful continuation with its caller travel nether the CEO, Prashant Kumar, Yes Bank posted beardown fourth-quarter results. The slope witnessed coagulated traction successful its bottommost enactment which grew 123% YoY and 95% QoQ connected the backmost of higher different income and little provisions. In a high-interest complaint environment, a beardown amusement connected operating parameters specified arsenic NIMs and NPAs indicates that the slope has bequest issues down it. The item of the 4th for america was the overmuch amended enlargement successful RoA and beardown maturation successful non-interest income which signifies that the lender’s strategical moves successful the past person started yielding results."

Yes Bank stock terms target

On Yes Bank's stock terms outlook, Sumeet Bagadia, Executive Director astatine Choice Broking said, “Yes Bank shares person made a beardown basal astatine ₹24 apiece level. The banal whitethorn go anemic connected breaching beneath this level. On the precocious side, Yes Bank stock terms is facing absorption astatine ₹30 to ₹32 zone. On breaching this absorption zone, we tin expect beardown upside question successful Yes Bank shares."

On the proposition to Yes Bank shareholders, Bagadia said, “One tin clasp the scrip maintaining halt nonaccomplishment astatine ₹24 apiece. Fresh investors tin besides bargain Yes Bank shares astatine existent levels maintaining halt nonaccomplishment astatine ₹24. Every large dip successful the banal should beryllium considered arsenic a large buying accidental till Yes Bank stock terms is supra ₹24 apiece level."

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 29 Apr 2024, 09:23 AM IST