Yes Bank shares are back in focus following the announcement of the bank’s Q2 results last week. Yes Bank Limited (NSE: YESBANK) reported a substantial 147% increase in net profit for the second quarter. With shares closing at ₹20.74 on Friday, market experts are recommending a buy position on Yes Bank shares due to the positive financial outcomes. Let’s delve into the Q2 results and insights from top brokerage firms.
Highlights from Yes Bank’s Q2 Results 🚀
Yes Bank’s consolidated net profit for Q2 surged by 147% to ₹566.59 crore, up from ₹228.64 crore in the same quarter last year. Key factors contributing to this growth include:
- Net Interest Income (NII): Rose by 14.3% to ₹2,200 crore
- Loan Growth: Increased by 12.4%
- Net Interest Margin (NIM): Improved by 2.4%
These positive numbers reflect a steady improvement in the bank’s operational performance and profitability.
Expert Recommendations and Target Prices 🎯
- Choice Broking Firm – Target Price Sumit Bagadia, a stock market expert from Choice Broking, suggests that Yes Bank shares have immediate support at ₹18, with a critical support level at ₹16. He advises investors to maintain a stop-loss at ₹16. If the stock breaks out above ₹21, it may potentially rise to ₹24, and later, ₹26. On Monday, November 4, 2024, Yes Bank traded at ₹20.4, down by 1.64%.
Key Takeaways from Choice Broking:
- Immediate Support: ₹18
- Critical Support: ₹16 (stop-loss level)
- Potential Upside: ₹24 to ₹26 if the stock surpasses ₹21
- Nomura India Brokerage – Target Price Nomura India maintains a ‘Neutral’ rating on Yes Bank shares, with a target price of ₹17. Despite a positive outlook on Yes Bank’s Q2 results, Nomura has lowered its target price. The brokerage highlights that Yes Bank’s position is gradually improving but remains cautious with a conservative target.
Key Takeaways from Nomura India:
- Rating: Neutral
- Target Price: ₹17
- Outlook: Positive but cautious improvement
Yes Bank Share Performance Over Time 📊
- 6-Month Return: -18.51%
- 1-Year Return: +29.22%
- 5-Year Return: -68.86%
- Year-to-Date (YTD) Return: +8.43%
While Yes Bank has shown a positive return over the past year, the 5-year performance remains in the red due to past challenges. Investors are advised to monitor Yes Bank’s recovery closely, particularly following its recent profitability gains.
Important Disclaimer
Investing in mutual funds and the stock market is subject to market risks. 📉 Always consult a financial advisor before making any investment decisions in equity markets.
Quick Comparison of Expert Views on Yes Bank
| Brokerage Firm | Target Price | Rating | Key Insights |
|---|---|---|---|
| Choice Broking | ₹24-₹26 | Buy | Strong support at ₹18; Stop-loss at ₹16 |
| Nomura India | ₹17 | Neutral | Gradual improvement; Conservative outlook |
Yes Bank’s recent Q2 results indicate steady recovery, and expert insights offer promising growth targets for investors. However, as always, consider your risk tolerance and consult a professional before making financial moves in the stock market. 📊
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