New Delhi: Yes Bank, a private lender, will announce its Q1 results for the fiscal year 2024-25. The market analysts believe that the Bank's improved asset quality in Q1 results is the reason for the positive numbers. Nevertheless, in spite of the optimistic forecast for Yes Bank's results, the private lender's stocks declined on Friday, only one day before its Q1 results disclosure.
Stock market professionals believe that the decrease in Yes Bank's stock price is due to decreased provisions and operating expenses, which are predicted to improve the Bank's profits.
Manish Chowdhury, Head of Research at StoxBox, expressed that Yes Bank's future looks promising due to the enhancement in the Bank's asset quality and capitalization in recent years, as observed in the Q1 results of 2024. Although Yes Bank's profitability may be temporarily affected by increased funding costs, we expect the bank to deliver strong financial results in the first quarter of FY25. Anticipated decrease in provisions and a gradual decrease in operating costs are projected to improve the Bank's profits.
According to Sumeet Bagadia, Executive Director at Choice Broking, Yes Bank shares are well-supported at Rs 23 each. The recommendation for Yes Bank shareholders is to set a stop loss of Rs 23 at the market opening on Monday. It is not recommended to engage in new purchases if the stock opens below Rs 24.80. It is recommended to purchase Yes Bankshares only if they are priced above Rs 25 on Monday. In case of this scenario, Yes Bank shares can be purchased at prices exceeding Rs 25 with immediate targets set at Rs 28 and Rs 30. Nevertheless, they are required to keep a stop loss at Rs 23.”
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