Yes Bank shares dip after Q1 results 2023. Should you buy in this correction?

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₹18.45 apiece on NSE, logging around 2.20 per cent intraday rise during early morning deals against its Friday close price of ₹18.05 per share levels. However, profit booking soon triggered and Yes Bank stocks started drifting southwards making intraday low of ₹17.70 apiece on NSE. According to stock market experts, Yes Bank Q1 results 2023 were declared on Saturday and Dalal Street is reacting to its quarterly numbers.

They said that Yes Bank managed to report rise in net interest income and net profit due to lowering of provisioning by more than 40 per cent during April to June 2023 quarter. However, its slippages went up, which has not gone down well on Dalal Street. However, they said that private lender cutting down its provisioning is an indication that management is showing confidence in the measures it took to sail out the private lender out of the crisis.

Thy advised 'buy on dips' strategy for high risk positional investors in regard to Yes Bank shares. Speaking on the reason for dip in Yes Bank shares, Saurabh Jain, Vice President — research at SMC Global Securities said, “Yes Bank has managed to improve its margins in Q1 results 2023. The private lender has managed to improve its NII and net profit during April to June 2023 quarter on both sequential and year-on-year (YoY) basis.

However, this could become possible due to lowering of provisioning. The private lender has lower its provisioning by more than 40 per cent in comparison to the previous quarter." Saurabh Jain of SMC Global went on to add that Yes Bank's slippages have went up during the first quarter of current financial year. This has not gone down well on Dalal Street and hence, we are witnessing sell off in the stock on upper levels.