Yes Bank shares hit 10-month high. Experts see potential multibagger in making
Stock market today: After taking a pause on Thursday, buying interest once again triggered in Yes Bank shares during Friday morning deals. Yes Bank share price today opened with a downside gap at ₹20.05 apiece levels on NSE and went on to hit intraday low of ₹19.80 per share levels. However, Yes Bank shares soon gathered upside momemtum and hit intraday high of ₹20.60 per share levels.
While climbing to ₹20.60 intraday high levels, Yes Bank shares hit 10-month high and breached February 2023 higher levels. According to stock market experts, Yes Bank shares are looking strong from both technical and fundamental perspective. They said that Yes Bank shares have broken 200 days exponential moving average (DEMA) for the first time in near four years.
Market experts said that Yes Bank's annual report suggests that the private lender has around 75 lakh happy customers, 3.54 lakh crore total assets, 2.03 lakh crore total advances, which augurs well about the private bank's financials. Experts went on to add that Yes Bank has recorded second straight year of profitavility in FY23. They said that Yes Bank stock is a potential multibnagger in next two to three years and predicted ₹40 per share target in this time.
Highlighting upon the strong fundamentals that may continue to help Yes Bank shares rebound after profit-booking triggers, Rakesh Bansal, Co-founder & Co-partner at Rakesh Bansal Ventures said, "Yes Bank's fundamentals are looking strong after 2018 crisis. In annual report of Yes Bank, the private lender has reported that it has 75 lakh happy customers. The lender has also reported 3.54 lakh crore total assets and 2.03 lakh crore total advances." Also read: Can Nifty 50 top 21k with a pre-election rally ahead of General
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