Yes Bank shares dip after Q2 results 2023. Experts see good opportubity to buy
Stock market today: After announcement of Yes Bank Q2 results 2023 on Saturday last week, Yes Bank shares today came under the sell off heat. Yes Bank share price today opened higher at ₹17.40 apiece levels, but soon came under the sell off heat and hit intraday low of ₹16.75 per share levels, losing to the tune of 2.50 per cent during early morning deals on Monday.
According to stock market experts, market is reacting to the Yes Bank Q2 results 2023 announced on Saturday as the private lender's margins and income has come under stress during July to September 2023 quarter. However, they said that Yes Bank's income has come under stress due to rise in cost of funding and maintained that cost of funding has gone up for all Indian banks and Yes Bank is not an exception to it.
They said that Yes Bank's fundamentals have been improving quarter after quarter ever since State Bank of India (SBI) took over the management of the then crisis-hit private lender. They said that such big dips in Yes Bank shares should be seen as buying opportunity and advised adding Yes Bank shares in one's portfolio.
Speaking on Yes Bank share price outlook, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Yes Bank shares are under sell off heat today as market is reacting to its Q2 results. Yes Bank's income and marigins have come under stress during July to September 2023 quarter and this fall is triggered by this only." He said that entire Indian stock market is under stress due to Middle East tension and Yes Bank share price dip should be seen from this angle as well.
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