yes bank target price, investment opportunity! In the new year, the bank’s share will cross Rs 50; But be sure of one thing – multibagger stock for 2023 yes bank share likely to reach rs 50 level next year
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What is the expert’s advice?
According to experts, the results of the third quarter of the current financial year will largely determine how Yes Bank shares will perform in the new year. Yes Bank is also expected to reduce its provisioning in the third quarter. This will increase Yes Bank’s margins exponentially and this private bank is likely to turn profitable. If this happens, the share price of this private bank may go up to Rs 40 to Rs 50 in the next 6 to 9 months.
Yes Bank may have imposed a three-year lock-in on large investors like Axis Bank, IDFC Bank, HDFC Bank, Kotak Mahindra Bank and others who bought stake in the bank in March 2020, experts said. Hence, Yes Bank is expected to de-provision in Q3FY23 in line with other banks. In such a scenario, the bank’s margins can improve significantly and profits can be made.
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Ravi Singhal, CEO, GCL Securities, says, “To a large extent, the bank’s Q3 results will dictate. If this private bank performs like other banks, it will also be very attractive.” He added that if Yes Bank’s quarterly performance is good, existing shareholders should not take profit. A good quarterly result would allow the bank’s shares to move into the Rs 40-45 zone.
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In the next 6 to 9 months, the share price of the bank is likely to rise to the level of Rs.50. “If one is buying at current levels, one should keep in mind a stop loss of Rs 17, with a target price of Rs 24,” says Sumeet Bagadia, Executive Director, Choice Broking.
Yes Bank Q2 Results
During the July to September 2022 quarter, Yes Bank reported a 31.7 percent increase in net interest income (NIM), but a 32.20 percent decline in net profit on a year-on-year or year-on-year basis. At that time, the private financial institution had claimed that the bank’s net profit had decreased due to the increase in provisions. According to Yes Bank’s unaudited results available on the BSE website, Yes Bank’s provision for Q2 FY23 was Rs. 583 crore, Q2 FY22 was Rs. 377 crores.
