Yes Bank Share Price 17 January 2024: 📈
Yes Bank, the troubled Indian bank that has been struggling for the past three years due to a massive fraud, is finally seeing a rise in its share price. Yesterday, in intraday trading on the National Stock Exchange of India (NSE), the company’s shares increased by 6% to reach ₹26.25. This is the highest level the share price has reached in 52 weeks.
The bank’s shares opened at ₹24.75 yesterday and quickly rose by 6.1% to reach ₹26.25. By around 12:30 PM, the shares had increased by 4.44% to reach ₹25.85 on the NSE. On Wednesday (17th January 2024), the share price was trading at ₹24.7, a decrease of 3.55%. Despite this, the share price of Yes Bank has been consistently rising over the past few months.
In November, the share price of Yes Bank saw a rise of 21%, followed by an 11% increase in December. So far this month, the share price has increased by 21%. Market analysts are optimistic about the future of Yes Bank. Some experts have expressed hope that the bank’s results for the December quarter will be good. The bank is set to release its quarterly results on Saturday, 27th January 2024.
Brokerage firm MK Global has estimated that Yes Bank’s net profit for the third quarter will increase to ₹415.1 crore. According to the firm, the bank’s net interest income (NII) is expected to increase by 4.5% on an annual basis and by 5.3% on a quarter-on-quarter basis, reaching ₹2,059 crore.
Based on a report by S&P Global Market Intelligence, Yes Bank’s market capitalization has seen the highest growth among other Indian banks in the December quarter of the current financial year. The bank’s market capitalization increased by 24.4% to reach ₹61,694 crore. As a result, Yes Bank has climbed to the 14th position in the list of the top 20 Indian banks based on market cap, surpassing two other banks.
Yes Bank has also claimed to have received the highest score in Environmental, Social, and Governance (ESG) sustainability in the S&P Global Corporate Sustainability Assessment 2023. The bank scored 73 in the assessment, which is 5 points higher than the previous year’s score.
Market experts believe that the current rise in Yes Bank’s share price will continue in the near future. According to Vaishali Parekh, Vice President of the Technical Analyst Department at Prabhudas Lilladher, the bank’s share price could reach the target of ₹34-40.
So, it seems like things are looking up for Yes Bank as it strives to recover from its past troubles. Investors and market analysts are hopeful that the bank’s performance will continue to improve in the coming months. 📈💼🏦
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
