Yes Bank shares have been a focal point for investors as of October 9, 2024. The stock has recently shown a decline, with the latest trading price reported at ₹21.86, down 2.50% from the previous close of ₹22.42. This drop is part of a broader trend, as Yes Bank’s share price has decreased by 12.21% over the past six months and 6.94% over the last month.
Main Points
Full Details on Price Action and Performance
Current Price and Historical Performance
- Current Share Price: ₹21.86
- Previous Close: ₹22.42
- 52-Week High: ₹32.85
- 52-Week Low: ₹15.70
The stock’s performance has been lackluster, with a notable decline of 3.87% in the last week alone. Over the past three months, it has fallen by 8.73%, indicating a challenging environment for investors.
Key Metrics
- Market Capitalization: Approximately ₹68,500 crore
- Price-to-Earnings Ratio (P/E): 47.09
- Price-to-Book Ratio: 1.70
- Return on Equity (ROE): 3%.
From a technical standpoint, Yes Bank is currently trading below its key moving averages, which suggests weak momentum. The stock has received bearish signals from both the 5-day and 10-day exponential moving averages (EMAs), indicating potential further declines in the short term.
Support and Resistance Levels
Investors should keep an eye on critical support and resistance levels:
| Level | Price (₹) |
|---|---|
| First Support | 21.56 |
| Second Support | 21.16 |
| Third Support | 20.81 |
| First Resistance | 22.31 |
| Second Resistance | 22.66 |
| Third Resistance | 23.06 |
These levels will be crucial for traders looking to make informed decisions in the coming days.
Analyst Ratings and Targets
Analysts have mixed views on Yes Bank’s future performance. Kotak Securities recently maintained a ‘sell’ rating with a price target of ₹19.00, reflecting concerns about the bank’s ongoing challenges and market position. The consensus among analysts indicates that caution is warranted given the stock’s current trajectory.
Recent Developments and News
Yes Bank has been under scrutiny due to its fluctuating financial performance and market perceptions. One significant highlight is the bank’s year-on-year increase in advances by 12.09%, which is higher than its five-year compound annual growth rate (CAGR) of 5.85%. However, despite this positive growth in advances, the overall sentiment remains cautious due to persistent declines in share price.
Furthermore, Yes Bank’s gross non-performing assets (NPA) percentage has improved over the past four years, now standing at 1.73%, while net NPAs are at 0.58%. This improvement suggests better asset quality management, which could be a silver lining for investors.
The Indian banking sector is experiencing significant changes due to various macroeconomic factors such as rising disposable income, government policies favoring infrastructure spending, and increasing consumerism. While these factors generally bode well for banks, Yes Bank’s specific challenges highlight the need for careful analysis before making investment decisions.
