Yes Bank shares : According to experts, Yes Bank’s net profit in Q4 FY2024 was Rs 451 crore, a significant increase of 123% from Rs 202 crore recorded in the same period last year.
Today’s Stock Market : Following the announcement of strong Q4FY2024 results on Saturday, Yes Bank shares witnessed a strong buying trend in Monday morning trade. Yes Bank’s share price opened higher on the NSE at ₹27.50 per share and quickly touched an intraday high of ₹28.55 per share, up 8 percent intraday on Monday.
Stock market watchers suggest that the current buying trend in Yes Bank shares is due to strong fourth quarter 2024 results. They expect further growth in Yes Bank shares and advise shareholders to hold their shares with a stop loss at ₹24, pending a near-term target of ₹30 and ₹32 per share. Although Yes Bank’s share price hit an intraday high of ₹28.55 per share, it came close to its current 52-week high of ₹32.85 per share.
Yes Bank’s fourth quarter results.
Commenting on Yes Bank’s Q4 2024 results, Amit Goel, co-founder and global chief strategist at Pace 360, said, “Yes Bank reported a net profit of ₹451 crore for the January-March quarter of FY2023-24, up 123% from ₹202 crore in the same period last year. The bank’s gross NPA was 1.7%, down from 2.2% in the same quarter last year. Net NPA for the quarter was 0.6%, an improvement from 0.80% year-on-year. In the fourth quarter, the company began operating as a PSP payments bank for existing and new Paytm consumers.”
Shreyansh V Shah, research analyst at StoxBox, analyzed Yes Bank’s Q4 2024 results and said, “As expected, Yes Bank, led by CEO Prashant Kumar, posted solid Q4 results. The bank posted a solid 123% y-o-y and 95% ko-k increase in net profit, driven by higher other income and lower provisions. In a high interest rate environment, the bank’s strong performance on operating metrics such as net profit margins and loan loss provisions indicate that the bank has overcome the problems of the past. Highlights for the quarter included a significant increase in RoA and strong growth in non-interest income, indicating that the bank’s earlier strategic decisions are starting to pay off.”
Yes Bank Target Price
Sumeet Bagadia, CEO of Choice Broking, offered an outlook on Yes Bank’s share price: “Yes Bank shares have a solid base at ₹24 per share. The stock could weaken if it falls below this level. On the upside, Yes Bank’s share price encounters resistance in the range of ₹30 to ₹32. If this resistance zone is broken, we can expect a sharp rise in Yes Bank shares.”
Bagadia advised Yes Bank shareholders, “Shareholders can hold their shares with a stop loss at ₹24 per share. New investors can also buy Yes Bank shares at current levels with a stop loss of ₹24. Any significant fall in the share price should be seen as a great buying opportunity as long as Yes Bank’s share price remains above the level of ₹24 per share.”