Yes Bank shares opened higher at Rs 27.50 apiece on the NSE and subsequently reached an intraday peak of Rs 28.55 per share after the market’s opening on April 29. This surge follows the bank’s announcement of robust Q4 2024 results on Saturday.
Market analysts attribute the current uptrend in Yes Bank’s stock to the impressive quarterly performance reported by the bank.
They anticipate further upward movement in Yes Bank shares and advise shareholders to maintain holdings, setting a stop loss at Rs 24, while aiming for near-term targets of Rs 30 and Rs 32 per share.
During its climb to an intraday high of Rs 28.55 per share, Yes Bank’s stock price approached its existing 52-week high of Rs 32.85 per share.
Yes Bank Q4FY24
Indian private lender YES Bank reported an impressive 123% year-on-year surge in net profit for the fourth quarter (Q4) of FY24, soaring to ₹452 crore from ₹202.4 crore in the same period last year, significantly exceeding analysts’ projections. According to the earnings report released on April 27, 2024, profits surged by 95.2% sequentially from the previous quarter.
In Q4FY24, the bank’s Net Interest Margins (NIM) remained stable at 2.4%, consistent with the preceding quarter. Notably, non-interest income witnessed robust growth, surging by 56.3% year-on-year and 31.3% quarter-over-quarter, contributing to a 38.8% annual increase for FY24.
Moreover, YES Bank demonstrated notable improvements in asset quality, with the Gross Non-Performing Asset (GNPA) ratio declining to 1.7% and the Net Non-Performing Asset (NNPA) ratio dropping to 0.6%. The provision coverage ratio remained strong at 79.3%.
Stock performance in last one year
In terms of stock performance, Yes Bank shares have demonstrated mostly positive returns across multiple time frames. Over the past month, the stock has given a commendable 12.27% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 72.10%, indicating a strong upward trend.
Year-to-date, Yes Bank shares have surged by 21.19%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 72.10% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
(Disclaimer: Views, recommendations, opinion expressed are personal and do not reflect the official position or policy of Financial Express Online. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
