Yes Bank shares may experience a stormy boom, expert gives new target

Yes Bank Share: Yes Bank shares remained in focus today on Monday. Shares of the company today Shares of Yes Bank remained in focus today on Monday. The company's stock today rose 3.63% to Rs. closed at 25.67.. The reason behind this rise in the stock is the quarterly results. Earlier on Friday, this share was Rs. It closed at 24.78. In fact, Yes Bank's June quarter results were better than expected. In the April-June quarter of last financial year, Yes Bank's net profit grew by 46.7 percent to Rs. 502 crores.

June quarter results

The bank said on Saturday that its net interest income in the June quarter rose 12.2 percent to Rs. 2,000 crores. Its net interest margin remained stable at 2.4 percent. Deposits increased by over 20 percent in the June quarter. Other income increased by 5.1 percent during the quarter to Rs. 1,141 crores. Its overall provision fell by 41.2 percent to Rs. 212 crore has been done. A senior official attributed this to the recovery of bad assets, which J.C. Flowers were transferred to Asset Reconstruction Company.

The bank's overall gross non-performing assets (NPA) ratio remained flat at 1.7 percent during the June quarter. Prashant Kumar, Managing Director (MD) and Chief Executive Officer (CEO) of Yes Bank said that they have targeted a loan growth of 16-17 per cent for the current financial year and a major portion of this will come from mid-market and small businesses.

Yes Bank shares will increase

Regarding the factors driving Yes Bank's share price, Avinash Gorakshkar, head of research at Profitmart Securities said, “Yes Bank's shares are rising after positive Q1 2024 results. The private lender reported growth in annual and quarterly net profit.

Talking about Yes Bank's outlook, Sumit Bagdia, Executive Director, Shares, Choice Broking, said that Yes Bank's shareholders can maintain their position for now. Yes Bank shares are expected to rise sharply. Soon this share will be Rs. 28 and Rs. Can reach up to 30.