Yes Bank Reports Strong Q4 Results, Share Price Jumps 8% in Market Rally

Yes Bank, a leading Indian private sector bank, witnessed a significant surge in its share price following the announcement of robust Q4 results for 2024. The stock opened with a gain of 8% in early trading on Monday at the National Stock Exchange (NSE), reaching an intraday high of ₹28.55 per share.

Amit Goel, the Co-Founder and Chief Global Strategist at Pace 360, commented on Yes Bank’s impressive performance. The bank reported a net profit of ₹451 crore in the January-March quarter, marking a substantial 123% increase from the same period last year. The gross NPA stood at 1.7%, down from 2.2% a year ago.

Shreyansh V Shah, a Research Analyst at StoxBox, analyzed the quarterly results and highlighted the positive trends. Yes Bank’s bottom line showed a significant growth of 123% YoY and 95% QoQ, driven by higher other income and lower provisions. The bank’s Return on Assets (RoA) improved, reflecting strategic moves that are yielding positive outcomes.

Sumeet Bagadia, an Executive Director at Choice Broking, discussed the outlook for Yes Bank’s share price. He emphasized that the stock has established a strong support level at ₹24 per share, and investors should consider buying on dips while maintaining a stop loss. Bagadia suggested that the resistance zone for the stock is at ₹30 to ₹32, and a breakthrough could lead to further upside movement.

Despite the positive sentiment surrounding Yes Bank’s Q4 results, Kotak Institutional Equities advised investors to sell the stock, citing an unfavorable risk-reward ratio. The brokerage maintained an unchanged fair value of Rs 19 on Yes Bank, factoring in the bank’s valuation multiples and projected return on equity.

The market reaction to Yes Bank’s performance underscores the ongoing transformations within the banking sector, with investors closely monitoring key financial indicators and strategic developments.