Yes Bank's share price jumps 11% on strong Q1 results and positive industry outlook

From Mint: 2024-07-05 22:52:02

1. Yes Bank shares saw strong gains, hitting an intraday high of ₹27.04. Experts predict steady profitability and healthy asset quality, advising shareholders to hold as the stock could reach ₹32 ahead of Q1 results 2024.

2. Manish Chowdhury of StoxBox attributes the surge in Yes Bank’s share price to confidence in steady profitability, healthy asset quality, and expanding lending business, leading to improved financial health.

3. VLA Ambala notes the rise in Yes Bank shares post-Q1 results announcement, citing positive industry results and expectations for strong fundamentals driving buying activity.

4. Technical charts show potential for a breakout in Yes Bank’s share price, offering a low-risk buying opportunity with a target range of ₹25.40 to ₹32. Ambala recommends buying at ₹24.2 with a stop loss at ₹23.

5. Yes Bank’s Q1FY25 shareholding pattern reveals stability among major shareholders like LIC, SBI, Axis Bank, ICICI Bank, and HDFC Bank. Investors are advised to consult experts before making any investment decisions.



Read more at Mint: Stock to buy or sell: Yes Bank share price jumps 11% on strong Q1 results 2024 buzz. More steam left?