Yes Bank shares traded flat in the last week as investors eagerly await the announcement of the Q3FY24 results. Throughout the week, the trading remained range-bound, with a marginal gain of ₹0.20 per share, closing at ₹24.90 on NSE on Thursday. The market is anticipating a healthy performance, and analysts are optimistic about the recovery and growth potential of Yes Bank.
Market Expectations for Yes Bank Q3FY24 Results:
Shreyansh V Shah, Research Analyst at StoxBox, expressed optimism, stating that the bank is expected to announce a robust set of numbers. The improvement in recoveries over the past few quarters is likely to contribute to the stability of Yes Bank’s asset quality. The submission of bids by Asset Reconstruction Companies (ARCs) for two NPA loan books further raises expectations for a healthy bottom-line growth.
Sonam Srivastava, Founder and Fund Manager at Wright Research, anticipates a significant turnaround for Yes Bank, projecting a 705.6% year-on-year increase in net profit to Rs. 415.1 crore. The expected rise in Net Interest Income (NII) suggests steady growth in core revenue-generating activities. However, concerns arise with the anticipated 6.6% year-on-year decline in Pre Provision Operating Profit (PPOP), which may impact market reactions.
Yes Bank Share Price Outlook:
Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher, provided a positive outlook for Yes Bank shares. The stock has maintained an uptrend in the last three months and is consolidating near-term support at ₹23.70 levels. A decisive breach above ₹25.70 to ₹26 zone is crucial for confirming a breakout, with potential targets at ₹28.50 and ₹31 levels.
Yes Bank Q3 Results Announcement:
Yes Bank has informed Indian stock market exchanges about the board meeting scheduled for January 27, 2024, to discuss and approve the Unaudited Standalone and Consolidated Financial Results for Q3 and nine months ended December 31, 2023. Analysts expect a surge in net profit and stable Net Interest Margin (NIM) for the December quarter.
Analysts from Emkay Global, Nomura India, and ICICI Securities have provided varied estimates for net profit, NII, and other financial metrics. Emkay Global expects a 706% YoY surge in net profit, while Nomura India forecasts a 508% YoY increase. ICICI Securities anticipates a significant rise in profit by 876% (9.76 times).
Conclusion:
The market is cautiously optimistic about Yes Bank’s Q3FY24 results, with analysts highlighting the bank’s recovery, growth potential, and strategic initiatives. Investors will closely monitor the reported figures, management commentary, and guidance for future quarters to gauge the bank’s direction and operational focus areas. The outcome of the results is expected to influence market sentiments and Yes Bank’s share performance in the coming weeks.