• Sat. Feb 24th, 2024
Yes Bank shares fall after Q1 2023 results.  Should you buy into this correction?

Yes Bank shares witnessed selling pressure at higher levels at the opening bell of the stock market today. Yes Bank share price today opened with an upside gap and hit intraday highs 18.45 apiece on the NSE, registering an intraday gain of 2.20 percent during morning deals. 18.05 per share. However, profit booking started soon and Yes Bank shares started to move south and hit intraday lows. 17.70 each on the NSE.

Yes Bank shares witnessed selling pressure at higher levels at the opening bell of the stock market today. Yes Bank share price today opened with an upside gap and hit intraday highs 18.45 apiece on the NSE, registering an intraday gain of 2.20 percent during morning deals. 18.05 per share. However, profit booking started soon and Yes Bank shares started to move south and hit intraday lows. 17.70 each on the NSE.

According to stock market experts, Yes Bank announced Q1 results 2023 on Saturday and Dalal Street reacts to its quarterly numbers. They said Yes Bank was able to record an increase in net interest income and net profit as it reduced provisioning by over 40 per cent in the April-June 2023 quarter. However, its slippages have risen and it has not gone down well on Dalal Street. However, they said the private lender’s cut in its provisioning was a sign of management’s confidence in the steps taken to bring the private lender out of the crisis. ‘Buy on dips’ strategy advised by you for high risk positional investors in case of Yes Bank shares.

According to stock market experts, Yes Bank announced Q1 results 2023 on Saturday and Dalal Street reacts to its quarterly numbers. They said Yes Bank was able to record an increase in net interest income and net profit as it reduced provisioning by over 40 per cent in the April-June 2023 quarter. However, its slippages have risen and it has not gone down well on Dalal Street. However, they said the private lender’s cut in its provisioning was a sign of management’s confidence in the steps taken to bring the private lender out of the crisis. ‘Buy on dips’ strategy advised by you for high risk positional investors in case of Yes Bank shares.

Why are Yes Bank shares falling today?

Speaking on the reason for the drop in Yes Bank shares, Saurabh Jain, vice president of research at SMC Global Securities, said, “Yes Bank managed to improve margins in Q1 2023 results. The private lender managed to improve its NII and net profit during April-June 2023. However, this may be possible due to reduced provisioning. The private lender has reduced its provisioning by more than 40 percent compared to the previous quarter.

Why are Yes Bank shares falling today?

Speaking on the reason for the decline in Yes Bank shares, Saurabh Jain, vice president of research at SMC Global Securities, said, “Yes Bank managed to improve margins in Q1 2023 results. The private lender managed to improve its NII and net profit during April-June 2023. However, this may be possible due to reduced provisioning. The private lender has reduced its provisioning by more than 40 percent compared to the previous quarter.

SMC Global’s Saurabh Jain added that Yes Bank’s slippages rose in the first quarter of the current fiscal. It has not gone down well on Dalal Street and hence, we are witnessing a sell off of the stock at higher levels.

SMC Global’s Saurabh Jain added that Yes Bank’s slippages rose in the first quarter of the current fiscal. It has not gone down well on Dalal Street and hence, we are witnessing a sell off of the stock at higher levels.

On the positive takeaways from the Yes Bank results, Vaibhav Kaushik, research analyst at GCL Broking said, “As expected, Yes Bank cut provisioning as deposits picked up in the recent quarter. This means the private lender was able to reach its target customer base.

On the positive takeaways from the Yes Bank results, Vaibhav Kaushik, research analyst at GCL Broking said, “As expected, Yes Bank cut provisioning as deposits picked up in the recent quarter. This means the private lender was able to reach its target customer base.

Kaushik said that Yes Bank shares were about to close From 12 13, it was traded till 14.50 19 levels each for a long time. Therefore, any decline in the stock should be seen as a buying opportunity by high-risk positional investors.

Kaushik said that Yes Bank shares were about to close From 12 13, it was traded till 14.50 19 levels each for a long time. Therefore, any decline in the stock should be seen as a buying opportunity by high-risk positional investors.

Sumeet Bagadia, executive director at Choice Broking said, “There is immediate support for Yes Bank shares. 16.75 per level. Hence, those who have Yes Bank shares in their stock portfolio are advised to maintain a tight stop loss. 16.75 levels. High risk traders can buy Yes Bank shares 17.25 levels, the stock may bounce back from these levels.

Sumeet Bagadia, executive director at Choice Broking said, “There is immediate support for Yes Bank shares. 16.75 per level. Hence, those who have Yes Bank shares in their stock portfolio are advised to maintain a tight stop loss. 16.75 levels. High risk traders can buy Yes Bank shares 17.25 levels, the stock may bounce back from these levels.

Yes Bank Results Q1FY24

Yes Bank has announced its earnings for the first quarter of the financial year 2023-24. The private lender reported a 10 percent rise in net profit in Q1FY24. 342.52 crore against net profit of Rs 310.63 crore during the same period of the previous financial year. On a QoQ basis, the private lender posted over 69 percent growth in net profit 202.43 crore in the fourth quarter of FY23. However, its slippages were more extensive 1,430 crore in the first quarter of FY24 1,072 crore in the first quarter of 23 years 1,196 crore in the fourth quarter.

Yes Bank Results Q1FY24

Yes Bank has announced its earnings for the first quarter of the financial year 2023-24. The private lender reported a 10 percent rise in net profit in Q1FY24. 342.52 crore against net profit of Rs 310.63 crore during the same period of the previous financial year. On a QoQ basis, the private lender posted over 69 percent growth in net profit 202.43 crore in the fourth quarter of FY23. However, its slippages were more extensive 1,430 crore in the first quarter of FY24 1,072 crore in the first quarter of 23 years 1,196 crore in the fourth quarter.

Disclaimer: The views and recommendations set forth above are those of individual analysts or brokerage firms and not of Mint. We advise investors to check with certified experts before making investment decisions.

Disclaimer: The views and recommendations set forth above are those of individual analysts or brokerage firms and not of Mint. We advise investors to check with certified experts before making investment decisions.

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