Yes Bank Shares Fall Over 26% From 52-Week High; Should you Buy, Hold or Sell?

Yes Bank Share Price: Private sector Yes Bank reached a record high of one year about 10 days ago. However, this upward trend in the bank’s shares did not last. In last ten days, Yes Bank shares have fallen to the tune of Rs 18.20 per share on NSE, logging more than 26 per cent dip after climbing to its 52-week peak. Today it has weakened by about 5 per cent. During trading today, it made an intra-day high of Rs 18.90 and a low of Rs 18 on BSE.

Manish Shah, Technical Analyst, said the ongoing decline in the last few days is a good opportunity for traders to enter the stock. He said major support for the banking stock is placed at Rs 19.50-19. He finds Rs 19.50 to 19 levels a good zone.

Shah advised traders to keep a stop loss below Rs 17.50 for a potential upside towards the 26.50-27 level over the next few weeks.

Speaking on Yes Bank share price outlook, Santosh Meena, Head of Research at Swastika Investmart said, “Yes Bank crossed the ₹20 per share mark after 2 years of consolidation, which is a good sign for the investors. However, 25 is a significant barrier where profit booking is occurring. We may see a period of consolidation after a vertical move where ₹18 should act as a floor now; therefore, ₹18–25 is a well-defined trading range in the near term, and any decisive move from this zone will dictate. further direction.”

Highlighting the reasons that led to the fall in Yes ank share price, Manoj Dalmia, Founder & Director at Proficient Equities said, “In recent Yes Bank share price rally, its PE had surged to the tune of 40, which was quite high from its peers. Its EBIDTA is 19.1 which is at par with Axis Bank shares but much higher than IndusInd Bank. So, current dip in Yes Bank shares was expected after the sharp upside move post-JC Flowers ARC deal.” Manoj Dalmia of Proficient Equities said that after Yes Bank JC Flowers ARC deal, Yes Bank’s GNPA is expected to go below 2 per cent whereas its net NPA may go below 1 per cent in upcoming quarters. So, the deal is going to work as one of the driving force for Yes Bank shares in upcoming sessions.

Yes Bank stock has been in focus over the past few weeks after private equity (PE) majors Carlyle Group and Advent have picked up a 9.99 per cent stake in the bank.

Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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