Yes Bank share price jumps 8% after strong Q4 results 2024. Do you own?
Stock market today: After the announcement of strong Q4 results 2024 on Saturday, Yes Bank shares witnessed strong buying in early morning deals on Monday. Yes Bank share price today opened upside at ₹27.50 apiece on NSE and went on to touch an intraday high of ₹28.55 per share within a few minutes of the stock market's opening bell, logging to the tune of an 8 percent intraday rise on Monday.
According to stock market experts, Yes Bank has declared strong Q4 results 2024 and current buying in the scrip can be attributed to this strong quarterly numbers. Expecting more upside in Yes Bank shares, they said that Yes Bank shareholders should hold the scrip maintaining stop loss at ₹24 and wait for near-term target of ₹30 and ₹32 apiece.
While climbing to the intraday high of ₹28.55 apiece, Yes Bank share price came close to its existing 52-week high of ₹32.85 apiece. Speaking on the Q4 results 2024 of Yes Bank, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, “Yes Bank reported a net profit of ₹451 crore for the January-March quarter of the financial year (FY) 2023-24, marking a 123 percent jump compared to ₹202 crore in the year-ago period.
The bank's gross NPA stood at 1.7%, down from 2.2% recorded in the same quarter last year. On the other hand, the net NPA for the quarter stood at 0.6%, improving from 0.80% on a year-on-year basis.
In the fourth quarter, it started functioning as PSP Payment Bank for existing and new consumers of Paytm." Decoding Yes Bank's Q4 results 2024, Shreyansh V Shah, Research Analyst at StoxBox said, “As expected and in continuation with its new journey under the CEO, Prashant Kumar, Yes Bank posted strong fourth-quarter results. The bank witnessed solid traction in its
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