Saturday, March 25, 2023
No Result
View All Result
The Anand Market
  • World
  • India
  • UK
  • US
  • Top Stories
  • Technology
  • Business
    • Crypto
    • Insurance.
  • Movies
  • Sports
    • Today’s Match Predictions
    • Cricket
    • Football
    • NBA
    • NFL
  • Health
  • Education
  • Web Stories
  • World
  • India
  • UK
  • US
  • Top Stories
  • Technology
  • Business
    • Crypto
    • Insurance.
  • Movies
  • Sports
    • Today’s Match Predictions
    • Cricket
    • Football
    • NBA
    • NFL
  • Health
  • Education
  • Web Stories
No Result
View All Result
The Anand Market
Home Market

What to Expect from Yes Bank Stock as Lock-in Period Expires Next Week

by The Anand Market
1 hour ago
in Market
50 3
What to Expect from Yes Bank Stock as Lock-in Period Expires Next Week
11
SHARES
FacebookTwitter

Yes Bank Stock: Yes Bank, one of India’s leading private sector banks, is expected to see volatility in its shares as the three-year lock-in period comes to an end on March 13, 2023. A report by ICICI Direct noted that the bank is poised to experience higher advance growth driven by granular retail assets. The report further stated that the bank’s focus on growth with margin improvement could enable it to improve its Return on Assets (RoA) to guidance of 0.9-1% in FY25.

As of Monday, the bank’s stock was trading at Rs 16.95 on the NSE and was up 10 paise or 0.59% from Friday’s closing price. Under the Reserve Bank of India’s ‘Reconstruction Scheme 2020’, a consortium of eight banks led by government-owned lender State Bank of India (SBI) executed equity commitments in Yes Bank. SBI initially purchased shares worth Rs 6,050 crore for a 48% stake in the bank at a consideration of Rs 10 per share.

According to the scheme, SBI cannot reduce its holding below 26% before the completion of three years from March 14, 2020. SBI equity has reduced to 26% as of December 2022 due to fund-raising dilutions over time, as noted in the ICICI Direct report. The report further mentioned that Yes Bank has witnessed gradual improvement in business growth as well as asset quality in the last six quarters. Recently, the bank concluded the sale of stressed assets to JC Flower, which has led to a substantial reduction in Gross Non-Performing Assets (GNPA) to 2%.

Yes Bank Stock
Yes Bank Stock

Yes Bank also recently concluded Rs 8,900 crore of capital raise from Carlyle and Advent. However, earnings could remain volatile on a quarterly basis riding on a Security Receipt (SR) of Rs 3,770 crore (from the sale of stressed assets of the face value of Rs 6,800 crore) and ageing on the same, as mentioned in the report. A near-term risk also includes the decision to write down AT-1 bonds, which has been challenged in court and is currently stayed. The supply overhang post expiry of stock is another risk.

According to data sourced from Trendlyne, the average broker target on Yes Bank shares is Rs 19.30, representing a 13% upside from current levels. On the weekly time frame, the price action in the stock shows a pattern of higher highs and higher lows, according to Mumbai-based trader Manish Shah. He added that the long-term trend is up and that the price decline from Rs 24.75 to 17 suggests that the price has seen an intermediate-term corrective decline against an ongoing uptrend.

“The 50-day moving average is trading above its 200-day moving average. The major support zone is between 15.50-16.50. Price action suggests that the narrow range price move between 17.10-16.20 is a basing-out pattern. Accumulate between 15.50-16.50. On the upside, price shows a potential to move higher to 20.50-24.00. Keep a distant stop at 15,” Shah advised.

Tags: nseYes bank

Related Posts

Chinese Stocks Expected to Rise by 24% by Year-End, According to Goldman Strategists
Market

Chinese Stocks Expected to Rise by 24% by Year-End, According to Goldman Strategists

March 25, 2023
104
modern building against sky
Market

4 Cities Facing a 2008-Sized Housing Crash? Goldman Sachs Reveals All – Don’t Miss Out!

March 25, 2023
247
person putting coin in a piggy bank
Market

Does the date of SIP investment affect returns? Analyzing the impact of 1st, 15th, and 30th of the month

March 25, 2023
104
PNC Financial Services Group, Inc. shares sold by Shell Asset Management Co.
Market

PNC Financial Services Group, Inc. shares sold by Shell Asset Management Co.

March 25, 2023
102
Leave Comment

Top Stories

  • Watch Avatar 2 Movie Download [4K, HD, 1080p 480p, 720p] Review

    Watch Avatar 2 Movie Download [4K, HD, 1080p 480p, 720p] Review

    5334 shares
    Share 2134 Tweet 1334
  • Watch Dilwale Movie Download [4K, HD, 1080p 480p, 720p] Review

    1805 shares
    Share 722 Tweet 451
  • Watch Vikram Vedha Movie Download [4K, HD, 1080p, 480p, 720p] Review

    3955 shares
    Share 1582 Tweet 989
  • Dashing CM Bharat Movie Download [4K, HD, 1080p 480p, 720p] Review

    947 shares
    Share 379 Tweet 237
  • Watch Pathaan Movie Download [4K, HD, 1080p 480p, 720p] Review

    6328 shares
    Share 2531 Tweet 1582
  • Download All Marvel Movies in Hindi Dubbed from Filmyzilla

    242 shares
    Share 97 Tweet 61
  • Watch Ek Tha Tiger Movie Download [4K, HD, 1080p 480p, 720p] Review

    1698 shares
    Share 679 Tweet 425
  • Watch Tiger Zinda Hai Movie Download [4K, HD, 1080p 480p, 720p] Review

    1578 shares
    Share 631 Tweet 395
  • Kuttymovies 2023 Tamil HD Movies Download Latest New Bollywood, Hollywood, Hindi Movies & Webseries kuttymovies.com

    795 shares
    Share 318 Tweet 199
  • Watch Titanic Movie Download [4K, HD, 1080p 480p, 720p] Review

    220 shares
    Share 88 Tweet 55
Facebook Twitter Instagram Telegram RSS Youtube

About Us

Follow us for news, photos, videos, and the latest trends around the world & on the Internet. www.anandmarket.in

Category

  • Business
  • Cricket
  • Crypto
  • Education
  • Fashion
  • Finance
  • Fitness
  • Football
  • Free Robux – Google Play
  • Health
  • India
  • Insurance.
  • Market
  • Movies
  • NBA
  • NFL
  • Sports
  • Technology
  • Today's Match Predictions
  • Top Stories
  • UK
  • Uncategorized
  • US
  • What to Watch
  • World

© 2020-2023 The Ananad Market - Latest News from Verified Sources.

No Result
View All Result
  • World
  • India
  • UK
  • US
  • Top Stories
  • Technology
  • Business
    • Crypto
    • Insurance.
  • Movies
  • Sports
    • Today’s Match Predictions
    • Cricket
    • Football
    • NBA
    • NFL
  • Health
  • Education
  • Web Stories
  • Login

© 2020-2023 The Ananad Market - Latest News from Verified Sources.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In