Yes Bank’s shares have performed well as the bank reported a net profit of ₹451 crore for the January-March quarter of FY24. This marks a significant 123% increase compared to the same period last year when the profit was ₹202 crore. Experts are optimistic about this strong performance by the bank.
Today in the stock market, Yes Bank shares saw a surge in buying after the company reported impressive results for the fourth quarter of 2024 on Saturday. The share price opened higher at ₹27.50 on the National Stock Exchange (NSE) and quickly rose to a peak of ₹28.55 per share shortly after the market opened, marking an 8 percent increase for the day.
According to stock market experts, Yes Bank has reported strong Q4 results for 2024, leading to increased buying in the stock. They advise that shareholders of Yes Bank should hold the stock with a stop loss at ₹24, expecting the shares to reach near-term targets of ₹30 and ₹32 each. Yes Bank’s share price reached an intraday high of ₹28.55, approaching its current 52-week high of ₹32.85.
In the latest quarter of 2024, Yes Bank reported a notable improvement in its financial performance. The bank’s net profit surged by 123% to ₹451 crore compared to the same period last year. Additionally, its gross NPA reduced to 1.7% from 2.2% while net NPA decreased to 0.6% from 0.80% year-on-year. Notably, in the fourth quarter, the bank also commenced operating as a PSP Payment Bank, catering to both existing and new customers of Paytm.
“Yes Bank’s Q4 2024 results have been impressive according to Shreyansh V Shah, Research Analyst at StoxBox. Under the leadership of CEO Prashant Kumar, the bank has shown significant growth with a 123% increase in bottom line compared to last year and a 95% increase from the previous quarter. This growth is mainly attributed to higher income from sources other than interest and decreased provisions. Despite a high-interest rate environment, the bank has managed to improve its Net Interest Margins (NIMs) and reduce Non-Performing Assets (NPAs), indicating that it has dealt with its past issues effectively. Notably, Return on Assets (RoA) has expanded significantly, and there has been substantial growth in non-interest income, suggesting that the bank’s strategic decisions in the past are yielding positive outcomes.”
According to Sumeet Bagadia from Choice Broking, Yes Bank’s stock has found solid support at around ₹24 per share. If the stock falls below this level, it may weaken. On the other hand, there is a challenge for the share price to surpass the ₹30 to ₹32 range as there is resistance there. Breaking through this resistance zone could lead to a significant increase in the value of Yes Bank shares.
to hold Yes Bank shares at a price of ₹24 each. For new investors interested in buying Yes Bank shares, it is advised to do so at the current price while setting a stop loss at ₹24. Whenever the stock price significantly drops, view it as a good opportunity to buy more shares as long as the price stays above ₹24.