Yes Bank Share Price Update: From ₹32.85 High to ₹21.02 – What’s Driving Recent Volatility?
Yes Bank’s stock has been a topic of interest among investors lately, especially with its recent performance and market outlook. As of October 21, 2024, Yes Bank’s share price is approximately ₹21.02, showing a slight increase from the previous close of ₹20.90. This reflects a broader trend in the banking sector, which is currently experiencing growth due to increased infrastructure spending and favorable government policies.
Main Points
- Current Share Price: ₹21.02
- 52-Week High: ₹32.85
- 52-Week Low: ₹15.70
- Market Capitalization: Approximately ₹66,111 crore
Over the past month, Yes Bank’s shares have decreased by about 9.95%, indicating some volatility in its stock performance. The stock has shown a 3-year return of 58.33%, outperforming the Nifty 100 index, which returned 40.02% during the same period.
From a technical standpoint, Yes Bank’s stock is trading below key moving averages, which indicates bearish sentiment among traders. The stock needs to break above these levels to show any significant upward movement:
| Moving Average | Current Price | Signal |
|---|---|---|
| 20-Day | ₹21.82 | Bearish |
| 50-Day | ₹22.74 | Bearish |
| 100-Day | ₹23.27 | Bearish |
| 200-Day | ₹22.94 | Bearish |
The Relative Strength Index (RSI) indicates that the stock might be oversold, suggesting potential for a rebound if buying interest increases.
Yes Bank has reported a year-on-year increase in advances by 12.09%, exceeding its five-year compound annual growth rate (CAGR) of 5.85%. The bank’s revenue growth stands at 22.87%, significantly higher than its three-year CAGR of 11.85%.
Key Financial Metrics
- Return on Equity (ROE): 3.04%
- Return on Assets (ROA): 0.31%
- Price to Earnings (P/E) Ratio: 52.08
- Price to Book (P/B) Ratio: 1.58
The bank’s gross non-performing assets (NPA) ratio has improved to 1.73%, while the net NPA ratio stands at 0.58%, reflecting better asset quality management over recent years.
Analysts are divided on Yes Bank’s future prospects:
- Bullish Reasons:
- Strong revenue growth and improving asset quality.
- Increased institutional holding indicates confidence from larger investors.
- Bearish Reasons:
- The overall recommendation from analysts remains cautious, with many suggesting a “Sell” rating.
- Technical indicators suggest further downside risks if the stock fails to recover above critical moving averages.
Investor sentiment towards Yes Bank remains mixed. Some see potential for recovery given the bank’s improving fundamentals and market conditions favoring the banking sector overall. However, others remain wary due to historical performance issues and current technical weaknesses.
Recent Analyst Recommendations
As per Refinitiv data, out of eleven analysts:
- 2 analysts recommend Hold
- 3 analysts recommend Sell
- 6 analysts recommend Strong Sell
This suggests that while there is some optimism about recovery, caution prevails among market experts.
